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KHOBAR: 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.
Copyright Reuters, 2011
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