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RELATED ARTICLES: Saudi Electricity secures US $500m from Japan bank | Saudi Electricity signs US $204.3m in deals | Saudi Electricity Co. launches multi-billion plan
Saudi Electricity Company, the state backed power supplier, has awarded two contracts to Alfanar Construction for work on a power plant and the Haramain High Speed rail project for a combined SAR 1.9 billion.
The company will provide the reinforcement for the third extension of the Hail 2 power plant, a project that aims to increase electricity capacity in the area by 280 MW, allow the plant to combined cycle and support the generation capability of the Hail area.
The first two units will be online by August 2012, SEC says. Alfanar is also working on the second extension of the plant and is expected to be finished this summer.
Alfanar will also build six new 380 kV substations to supply power to the upcoming double-track high speed Harmain railway currently in construction.
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SEC, listed on the Tadawul in Riyadh, has made a number of contract awards in the last year to extend its power infrastructure as the Kingdom battles to meet rising energy demands, which are as high as 7-8% per year by some estimates.
In January, Ali Al-Barrak, CEO of SEC, said the company had executed SAR 90 billion worth of projects last year, including a contract with GDF Suez and two other contractors for the construction of a 1,750 MW power plant, which will be partly financed by banks, and a SAR 6 billion deal with Hyundai Heavy Industries Company from SEC subsidiary Dhuruma Electricity Company to build a power plant.
The country is also sharing a grid with Egypt.
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