Saudi Electricity gives $3.92bn power projects green light

24 August 2010

Saudi Electricity Co has approved the award of SR14.7bn ($3.92bn) worth of power projects to meet rising demand in the kingdom, Reuters has reported. The award includes expansion of the Rabigh power plant and other power transmission and generation projects, which will be financed through loans and its own resources. The plant, Rabigh 6 would have a capacity of 2,400 megawatt to 2,800 MW, about 12-14% of the 20,000 MW the SEC plans to add through 2018, at an estimated total cost of $80bn.

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