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A consortium led by Samsung Engineering Co. has secured an order worth $3 billion to build a power plant in Saudi Arabia, South Korea’s largest industrial plant builder said Monday.
Under the deal with Saudi Arabia’s Saline Water Conversion Corp., the consortium will build the 3,100-MW power plant in Yanbu, 350 kilometers north of the country’s second-largest city of Jeddah, in 48 months after it begins work.
Samsung’s share in the project is valued at around $1.5 billion, according to the company.
Samsung Engineering started its power plant business in August 2010 in a bid to diversify its business portfolio.
Shares of Samsung Engineering closed at 168,500 won on the Seoul bourse, down 2.03 percent from the previous session’s close. (Yonhap News)
Under the deal with Saudi Arabia’s Saline Water Conversion Corp., the consortium will build the 3,100-MW power plant in Yanbu, 350 kilometers north of the country’s second-largest city of Jeddah, in 48 months after it begins work.
Samsung’s share in the project is valued at around $1.5 billion, according to the company.
Samsung Engineering started its power plant business in August 2010 in a bid to diversify its business portfolio.
Shares of Samsung Engineering closed at 168,500 won on the Seoul bourse, down 2.03 percent from the previous session’s close. (Yonhap News)
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Articles by Korea Herald
