Hyundai Heavy Clinches $3.3 Bil. Deal to Build Thermal Power Plant in Saudi Arabia

 

Hyundai Heavy will build the 2,640-megawatt thermal power plant on a turnkey basis taking responsibility for all processes from design to equipment manufacturing and supply, construction, and pilot operation.

 

Since November last year when the technical bidding has begun, the company has competed fiercely with ten or so world-class construction contractors and was selected as the preferred negotiating partner in May this year. Earlier in October last year, Hyundai Heavy had won a $3.2-billion order from the same Saudi Electricity Company to build a large thermal power plant in Jeddah jointly with Japan's Mitsubishi.