Yanbu, Saudi Arabia December 20, 2012 - Samsung Engineering and consortium partners Al Toukhi and Shanghai Electric met with Saline Water Conversion Corporation (SWCC) to officially sign the $3 billion USD contract for the Yanbu Power Plant Phase 3 project in Saudi Arabia.
SWCC's Governor H.E. Dr. Abdulrahman M. Al Ibrahim, Saudi Arabia's Minister of Water and Electricity H.E. Abdullah Al Hossein, Al Toukhi's Chairman Mahmoud Al Toukhi, Shanghai Electric's President of Power EPC Yuan Yi, and Samsung Engineering's President and CEO Park Ki-Seok confirmed the deal in an official ceremony.
The 3,100 MW power plant will be built in Al-Madinah Province and will supply electricity to the Yanbu Industrial complex after the project is complete in 48 months. Samsung Engineering's scope for the power plant includes engineering, procurement, construction and commissioning, on a lump-sum turnkey basis, with a contract value of $1.5 billion USD.
At the signing Samsung Engineering's President & CEO Park Ki-Seok said, "This award 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. We look forward to exceeding SWCC's expectations with the safe and on-time delivery of the Yanbu power plant project."
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Samsung Engineering Co., Ltd
Samsung Engineering is one of the world's leading engineering, procurement, construction and project management (EPC&PM) companies. Operating in over 40 countries, the company provides total project management from planning and financing through to construction and commissioning and has built some of the world's largest and most complex hydrocarbon and industrial plants and facilities. Samsung Engineering has a reputation for delivering projects on time and uses the latest innovations to engineer industry-leading facilities. With its global workforce at 13,000 and 2011 revenues at 8.4 billion USD, the company is also one of the fastest growing EPC contractors. For more information, please visit www.samsungengineering.com
Samsung Engineering International PR Team 500 Samsung GEC, 15th Floor, Sangil-Dong, Gangdong-Gu 134-728 Seoul, Korea Charlotte Lee charlotte85.lee@samsung.com, Emily Kwon youyoung.kwon@samsung.com
© Press Release 2012
