Saudi Electricity Co. (SEC) signed a contract with South Korea's Hyundai Heavy Industries Co. Ltd. (HHI) to build a SR12.2 billion ($3.4 billion) power plant in Shuqaiq, it said on Sunday.
HHI will install four steam generating units with highly efficient boilers to produce 2,640 megawatts of capacity, SEC said, according to the company.
The plant, located in the Jazan province, will be built within five years, SEC said.
SEC in SR12bn deal with S. Korea firm
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