Middle East Economic Survey

VOL. LIV

No 45

7-Nov-2011

SAUDI ARABIA

SEC Awards Shuaiba II Power Plant Contract To Daelim

State-controlled Saudi Electricity Company (SEC) announced on 29 October that it had penned a deal to build a new power plant at Shuaiba 120km south of Jiddah at a cost of SR4.6bn ($1.23bn). SEC initially did not to disclose the name of the company that won the contract. However, on 31 October reports stating that South Koreas Daelim Industrial had won deal were verified...