The local Saudi Electricity Company (SEC) is planning to oversee the construction of a 1,000MW combined-cycle gas turbine (CCGT) power plant, to be built at Saudi Arabian Mining Companys (Maadens) Waad al-Shamal industrial development.
SEC is expected to announce procurement and construction details of the plant later today (4 February). The CCGT will be built at the Waad al-Shamal city, a $6bn phosphate mining development in the north of the kingdom.
In December, international and regional banks submitted commitments for a $5bn project financing to support the Waad al-Shamal development. Funds will be used to develop the phosphates city, which is being built at Umm Waal, on the border with Jordan. Maaden will own 60 per cent of the project, the US Moasic 25 per cent and Saudi Basic Industries Corporation (Sabic) the remainder.
In late November, Maaden announced the award of a SR2.25bn ($599.9m) engineering, procurement and construction (EPC) contract to Spains Intecsa Industrial to build a fertiliser plant that will be part of the Waad al-Shamal phosphate project.