Riyadh - Sharikat Mubasher: A consortium encompassing Egypt’s Orascom Construction and Spain’s Técnicas Reunidas secured a $2.6 billion contract to expand a large-scale 3 GW combined cycle gas-fired power plant in Saudi Arabia.
Both companies signed an Engineering, Procurement, and Construction (EPC) contract with Hajr Two Electricity Company, a consortium comprised of ACWA Power, Saudi Electricity Company, and Haji Abdullah Alireza & Company, according to a recent statement by Orascom Constructions.
The project will be equipped with readiness for carbon capture and include a 380 kV electrical substation.
Osama Bishai, CEO of Orascom Construction, said: “This project exemplifies the type of opportunities that we actively pursue where we can leverage our expertise to deliver high-quality projects and maximum value. It also builds on our success in the power sector most recently in Egypt, and we look forward to making a similar significant impact in Saudi Arabia.”
Moreover, this project reinforces Orascom Construction’s position as a leading player in the power sector across the region.