Doosan Heavy Industries and Construction of South Korea and its Saudi partner Bemco, have won a $1.04 billion contract to build a power plant in Saudi Arabia.

The contract to be signed with the Saudi Electricity Company, is for construction of a 1,330-megawatt plant near the eastern city of Damman by 2013.

Under the deal, Doosan will supply steam turbines, heat recovery steam generators and other major elements for the plant.