Tuesday 11 December 2018

Posco E&C in talks on $2.9bn Saudi projects

RIYADH, July 3, 2016

Posco E&C, a South Korean global construction leader, is in talks with the Saudi government for the development of key infrastructure projects worth $2.92 billion including a power plant, sulphur railcar roaring facility and a wastewater treatment plant in the kingdom, said a report.

Most of these projects are related to Saudi Vision 2030, reported Arab News, citing a senior company official.

Posco E&C has lined up many projects for the kingdom to support its march to achieve Vision 2030, including 13 projects under planning, two under construction and two under negotiation, stated its president and CEO Han Chan Kun.

"Under construction projects are the $421 million sulphur railcar roaring facility owned by Saudi Aramco and the $79 million Yanbu wastewater treatment plant owned by Marafiq,” he revealed.

Two other projects under negotiations are the $2 billion Ghazlan power plant owned by Saudi Electricity Company (SEC) and construction of a five-star hotel for Dar Al Hijrah at an investment of $918 million, he added.

Tags: Saudi projects |

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