Samsung, Shanghai Electric win $3bn deal
Dammam, November 26, 2012
A consortium including Samsung Engineering and Shanghai Electric have won an 11.3 billion riyal ($3 billion) deal to build a water desalination plant on the Red Sea coast of Saudi Arabia.
Saudi's state-owned Saline Water Conversion Corp (SWCC) said on Monday it awarded the contract to the South Korean and Chinese companies respectively as well as to Saudi Al Toukhi Co for Industry, Trading and Contracting, to build the fuel oil-fired plant, known as Yanbu III.
Water consumption in the desert kingdom is already almost double the per capita global average and increasing at an ever faster rate with the rapid expansion of population and industrial development.
The new plant will have a capacity of 550,000 cubic metres per day of desalinated water and a power capacity of 2,500 megawatts.
SWCC has said it plans to nearly double energy-intensive desalinated water production to almost 6 million cubic metres per day by the end of 2015.
SWCC's plants on the Red Sea coast burn oil -- crude, fuel and cracked oil-- while gas is used in those on the Gulf coast, the heart of the kingdom's oil wealth. The firm has 36 plants. - Reuters
More Construction & Real Estate Stories
- Work to start on Bahrain beach project
- Damac launches luxury apartments at Expo site
- Kuwaitis top GCC property buyers in Oman
- Rubber World to showcase at Big 5 Saudi
- Tool to help create effective property listings
- 'Smart' move by Dubai Design District
- Drake unit wins $13m contract in India
- Solar-powered cleaning boats launched in Sharjah
- $27m Expo Hotel Sharjah deal signed
- Arabtec unit wins $282m Emaar contract
- Abu Dhabi to host pool & spa expo
- ADCM unit secures $213m bridging loan
- Cluttons Dubai launches new luxury apartments
- Dubai developer Damac profits triple to $641m
- Dubai to start work on $544m water canal
- Dubai property market can absorb 25,000 units
- Jones Lang LaSalle renamed 'JLL'
- Aldar raises synergy estimate from Sorouh merger
- UAE industrial property sector keeps up growth
- Dubai residential property prices up 26pc
- Majid Al Futtaim to build new mall in Dubai IMPZ
- 300 firms to take part in Dubai property forum
- Naseej inks deal to develop Bahrain projects
- Dadabhai unveils new residential project
- Flowcrete completes Dubai Mall project
- Global asphalt demand hits new high
- $1.3bn infrastructure investment firm set up in Saudi
- Manara sees big project villa success
- Global giants eye RAK utility projects
- Cayan partners with international artist Zsuzsanna