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Saudi Electricity Company (SEC) and an unnamed Saudi company have signed a US$1.44 billion contract to develop 1,200 MW of power generation capacity at a plant in Riyadh.
The Saudi company will add 10 steam turbines to the PP10 combined cycle Riyadh power plant which currently has a generation capacity of 2,240 MW. SEC expects the turbines to come into operation within four years.
The lowest bid of US$1.43 billion was submitted by Saudi Arabian Bemco Contracting Co (Bemco).
In order to meet the kingdom's power demand which is growing at around eight per cent each year, SEC is implementing a US$80 billion investment programme to increase its power generation capacity by 30,000 MW before the end of 2018.