Samsung C&T wins $1.2bn Rabigh II power plant deal
South Korean contractor to lead consortium building 2,100MW station
Samsung C&T has landed a $1.2bn engineering, procurement and construction (EPC) contract for the Rabigh II Independent Power Project (R2IPP) in Saudi Arabia.
The company has formed a joint venture with Acwa Power to deliver project. The consortium will have a 50% share of the operating company that will run the project, Al Mourjan for Electricity Production Company, with state-owned utility Saudi Electricity Co holding the remaining 50%.
R2IPP will be a combined cycle, gas-fired power plant capable of generarting 2,100MW. It is expected to begin commercial operations in 2017.
Samsung C&T said: “The company is proud to be the EPC contractor of R2IPP which will help to deliver value to the economic expansion and at the same time serve the electricity needs of Saudi Arabia.
"We are confident that Samsung C&T can go beyond our client’s expectations by successfully completing this project on time and safely.”
The company has experience of building other power plants in Saudi Arabia and is currently working on the 4,000MW Qurayyah IPP in the Kingdom.