Samsung wins $1.2bn Saudi power project

10 December 2013 0 Comments

10 December 2013

South Korea’s Samsung C&T has won a contract for the engineering, procurement and construction of the Rabigh II Independent Power Project (R2IPP) in Saudi Arabia.

Samsung has formed a joint venture with Saudi developer, Acwa Power, to deliver project.

The consortium will own a 50% share of the operating company that will run the project with state-owned utility Saudi Electricity Co holding the remaining 50%.

The plant will be built in Rabigh, 150km north of Jeddah (Wikimedia Commons)

Once complete R2IPP will be a 2,100MW combined-cycle gas-fired powered plant, located in Rabigh, on the western coast of Saudi Arabia, 150km north of Jeddah.

The facility is expected to start operating in 2017.

Samsung C&T is currently working on the 4,000MW power plant in Qurayyah.