RIYADH, Oct 8 (Reuters) - Saudi Electricity Co 5110.SE has approved the awarding of a 11.96 billion-riyal ($3.12 billion) contract to build a 2.7-gigawatt power plant in south Jeddah to an unidentified bidder, it said on Monday.

It said in a bourse statement that the plant, which will use steam turbines, is to be built in 45 months.

Last month, Reuters reported that South Korean group Hyundai Heavy Industries 009540.KS was the low bidder on the project, citing industry sources. ID:nL5E8KHKEE

The other bidders included Daelim Industrial 000210.KS , Samsung C&T 000830.KS , a consortium of Doosan Heavy Industries

034020.KS and Hyundai Engineering and Construction

000720.KS , France's Alstom ALSO.PA with Saudi Arabia's Bemco, and a consortium comprising Siemens SIEGn.DE Marubeni

8002.T and Turkey's Gama, the sources said.

The contract for the plant, which is expected to use oil feedstock, will be signed in the coming months, SEC said in its statement.

It will be financed from the company's own balance sheet as well as borrowing from the government and from local and international lenders, it said.

(Reporting By Angus McDowall; Editing by Alison Birrane)

((angus.mcdowall@thomsonreuters.com)(Reuters Messaging: angus.mcdowall.thomsonreuters.com@reuters.net))

Keywords: SAUDIELECTRICITY PLANT/AWARD