Samsung Engineering-led consortium wins US$3 billion Yanbu project

YanbuIII-SamsungThe Saline Water Conversion Corporation has awarded the Yanbu phase III project to Samsung Engineering led consortium. (Image source: Rory Hyde/Flickr)A consortium led by Shanghai Electric and Samsung Engineering has won a US$3bn contract to build a desalination plant on the Red Sea coast in Saudi Arabia

The contract for the 550,000 cmd facility, known as Yanbu III, was awarded by the Saline Water Conversion Corporation (SWCC).

Under the terms of the contract, the consortium that includes Saudi Arabia’s Al Toukhi will work on the scheme.

Samsung will execute the engineering, procurement and construction (EPC) of the power plant on a lump-sum turnkey basis in a deal worth US$1.5bn.

The Yanbu Phase 3 scheme, planned to be built in Al-Madinah Province in the southern part of Yanbu, is set to comprise a 3,100MW power and desalination plant that will provide power for the Yanbu Industrial complex.

“We are pleased to have this opportunity to contribute to the development of the Kingdom as this power plant will produce the power needed for the industrial complex. We believe that Samsung Engineering can go beyond our client SWCC’s expectations by successfully completing this mega project on time and safely,” said Samsung Engineering president and chief executive officer Park Ki-Seok.

The power plant is expected to be constructed within 48 months.

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