Saudi Electricity Company announces Engie a partner in a power project
Saudi Electricity Company (5110.SE) signed an agreement for the renovation project of Fadhili power plant to capacity additions of 1,504 MW, where SEC will hold 30% ownership, Aramco (30%) and 40% for the private sector. Engie, the global utility giant, had been awarded a c.USD1.2bn contract, through an international tender for the private sector contribution to the project. The IPP project is expected to commence commercial operations in December 2019. (Tadawul)
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