Samsung secures $1.5B deal for Saudi Arabia power plant

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Samsung secures $1.5B deal for Saudi Arabia power plant

Samsung Engineering, Korea’s largest industrial plant builder, said yesterday that it has secured a $1.5 billion order to build a power plant in Saudi Arabia.

Under the deal with Saudi Arabia’s Saline Water Conversion, the Korean company will build the 3,100-megawatt power plant in Yanbu, 350 kilometers (215 miles) north of the country’s second-largest city of Jeddah by December 2016.

The power plant will supply electricity to the Yanbu Industrial complex, Samsung said.

“This order represents Samsung Engineering’s strong standing in the power plant business, as it is the third power plant we have received in Saudi Arabia since 2011,” Samsung Engineering President and CEO Park Ki-Seok said at the signing ceremony in Yanbu, according to Samsung Engineering.

Yonhap

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