Combined Cycle Power Deal
Doosan Heavy Industries & Construction Co., South Korea's leading power equipment maker, announced on December 19 that it has signed a 1 trillion won (US$841.04 million) deal with French energy giant Engie SA in Dubai of United Arab Emirates to build a Fadhili combined cycle power plant in Saudi Arabia. The signing ceremony was attended by David Rich, chief technology officer (CTO) of Engie and Kim Hun-tak, chief executive officer (CEO) of Doosan Heavy Industries’ EPC BG.
The power plant will supply electric power and heat to Fadhili Gas Complex located 85 kilometers northwest of Jubail Port in the Eastern province of Saudi Arabia. The plant will have a capacity of 1519 megawatts. Under an engineering, procurement and construction (EPC) arrangement, Doosan Heavy Industries will complete the project by the end of November 2019.
Doosan Heavy Industries has formed a consortium with Engie to carry out the project and received a final notification that it won the project commissioned by Saudi Electricity Company (SEC) and the state-run oil company Aramco.
Meanwhile, Doosan Heavy Industries expects to see its amount of orders received this year surpass 9 trillion won (US$7.57 billion) when it wins the Obra-C and the Jawaharpur projects worth 2.4 trillion won (US$2.02 billion) by the end of this month as expected, following the latest contract.