Riyadh PP11 plan financing could be secured soon

21 March 2010

The financing deal of Riyadh PP11 independent power project (IPP) could be secured significantly before its May 31 deadline, Meed has reported citing sources close to the deal. The project is set to cost between $2.2bn and $2.3bn in total, with about $1.8bn to be covered by debt. The gas-fired power plant will have a capacity of 2,000MW and will use natural gas feedstock with Arabian super light crude as a backup fuel.

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