VOL. XXXIX

No. 28

8-April-1996

SAUDI ARABIA

Ghazlan Bids Now Submitted

It now appears that four groups have gone ahead with the bidding for the $500mn financing required over 11 years by the Saudi power utility SCECO-East to expand its Ghazlan power station. Sources close to the bidding say that the reason for the second extension of the process to 25 March was probably because a fourth group - rumored to be the international group put together by Saudi International Bank and...