Riyadh – Mubasher: Saudi Electricity Company (SEC) on Wednesday announced awarding France’s Engie a contract to build the Fadhili power plant, a joint project with Saudi Aramco.
The $1.2-billion (SAR 4.5 billion) 1,504 megawatt (MW) power plant will be operational by December 2019, SEC said in a bourse filing.
It added that the project will be financed by SEC and Aramco as well as other external sources.
SEC and Aramco will each own 30% of the new project, while 40% will be owned by private sector partners.
