Bemco says frontrunner for Riyadh power plant
Al Khobar, August 13, 2011
Saudi-based Arabian Bemco Contracting Co said on Saturday its bid of $1.434 billion was the lowest for the expansion of a 3,400 megawatt (MW) power plant near the Saudi capital, Riyadh.
The new combined cycle project would add 1,300 MW to the existing facility owned by state utility Saudi Electricity Co (SEC), Bemco said in a statement.
When completed in 2015, it will be the world's largest combined cycle plant, the company added.
SEC which has a current installed power capacity of 50,000 MW, plans to boost capacity to at least 80,000 MW by 2020 to meet power demand, growing by almost 8 percent annually.
Bemco said it submitted its offers on Aug. 2 and competed against the following companies: Spanish Tecnicas Reunidas ($1.481 billion), South Korea's Hyundai Heavy Industries (HHI) ($1.485 billion), Japan's Marubeni with South Korea's Hyundai E&C ($1.648 billion), Saudi National Contracting Co (NCC) in a consortium with Black and Veatch Corp ($1.998 billion) and South Korea's Doosan Heavy Industries ($2.592 billion). – Reuters