Latest news with #OsamaBishai
Yahoo
25-03-2025
- Business
- Yahoo
Orascom and Técnicas Reunidas to build 3GW Saudi gas-fired power plant
Orascom Construction, in an equal joint venture with Técnicas Reunidas, has signed a $2.6bn engineering, procurement and construction (EPC) contract for the 3GW Qurayyah IPP expansion project in Saudi Arabia's Eastern Province. The project involves a combined cycle gas-fired power plant, featuring readiness for carbon capture and a 380kV electrical substation. The EPC contract was signed with the Hajr Two Electricity Company, a consortium including ACWA Power, the Saudi Electricity Company and Haji Abdullah Alireza & Co. Orascom Construction and Técnicas Reunidas have already received limited notice to proceed. Orascom Construction CEO Osama Bishai stated: 'We continue to deliver on our geographic diversification strategy with a particular focus on key sectors such as power and water. This project exemplifies the type of opportunities that we actively pursue where we can leverage our expertise to deliver high-quality projects and maximum value. 'It also builds on our success in the power sector most recently in Egypt, and we look forward to making a similar significant impact in Saudi Arabia. We are also pleased to partner with Técnicas Reunidas on this large-scale project and to extend our partnership in Saudi Arabia and the region.' Orascom Construction has a history of projects in the Middle East and Africa with a total capacity of more than 30GW. This includes two 4.8GW combined cycle gas-fired power plants in Egypt. In a related development, Siemens Energy has secured a $1.6bn project to provide technologies for the Rumah 2 and Nairyah 2 gas-powered power stations in Saudi Arabia. These plants, located in the western and central regions of the country, will contribute 3.6GW to the national grid, supplying power to 1.5 million homes. "Orascom and Técnicas Reunidas to build 3GW Saudi gas-fired power plant" was originally created and published by Power Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Yahoo
24-03-2025
- Business
- Yahoo
Egypt's Orascom Joins Spanish Group to Build 3-GW Gas-Fired Plant in Saudi Arabia
An Egypt-based construction group is partnering with a Spanish energy infrastructure company to build a 3-GW combined-cycle natural gas-fired power plant in Saudi Arabia. Orascom Construction, headquartered in Cairo, on March 24 said its 50-50 joint venture with Spain's Técnicas Reunidas was awarded a $2.6-billion contract to build the Qurayyah IPP Expansion Project power station in the Eastern Province of Saudi Arabia. The engineering, procurement, and construction contract was signed with Hajr Two Electricity Co., a consortium that includes ACWA Power, Saudi Electricity Co., and Haji Abdullah Alireza & Co. Ltd. The power plant will have technology for carbon capture. The project also includes construction of a 380-kW substation. Saudi Electricity Co. in February said it had signed a power purchase agreement with the Saudi Power Procurement Co. for the energy from the expansion project. The new facility provides more electricity in a region that includes the original Qurayyah IPP power station, a nearly 4-GW gas-fired plant that has operated since 2015. Osama Bishai, CEO of Orascom Construction, said, "We continue to deliver on our geographic diversification strategy with a particular focus on key sectors such as power and water. This project exemplifies the type of opportunities that we actively pursue where we can leverage our expertise to deliver high-quality projects and maximum value. It also builds on our success in the power sector most recently in Egypt, and we look forward to making a similar significant impact in Saudi Arabia. We are also pleased to partner with Técnicas Reunidas on this large-scale project and to extend our partnership in Saudi Arabia and the region." Qurayyah is among several projects being designed to increase Saudi Arabia's power generation from natural gas, as state-owned oil and gas company Aramco ramps up production. Those projects are being supported by international energy groups and engineering firms. Siemens Energy earlier in March was awarded a $1.6-billion project that has Harbin Electric International as the EPC contractor. That deal includes supplying technologies for the Rumah 2 and Nairyah 2 gas-fired power plants in Saudi Arabia. Those stations are located in the western and central regions of the country. Rumah 2 and Nairyah 2 will 3.6 GW of power generation capacity to the Saudi grid. The two plants initially will operate in simple-cycle mode, then transition to full operation as combined-cycle power plants by 2028. Orascom Construction PLC is a leading global engineering and construction contractor with a footprint covering the Middle East, Africa and the U.S., and operations encompassing the infrastructure, industrial, and commercial sectors. Orascom has projects either online or under construction in the Middle East and Africa with total generation capacity of more than 30 GW. That includes two 4.8-GW combined-cycle gas-fired facilities in Egypt. —Darrell Proctor is a senior editor for POWER.
Trade Arabia
24-03-2025
- Business
- Trade Arabia
Orascom-Técnicas JV lands $2.6bn Saudi power plant deal
Orascom Construction has announced that its joint venture with leading Spanish contractor Técnicas Reunidas has been awarded an engineering, procurement and construction (EPC) services contract worth $2.6 billion for the Qurayyah IPP Expansion Project in Saudi Arabia. A global engineering and construction group, Orascom is primarily focused on infrastructure, industrial and high-end commercial projects in the Middle East, Africa, and the US. Orascom Construction said the contract for Qurayyah IPP was awarded by Hajr Two Electricity Company, a consortium comprising key Saudi entities major Acwa Power, Saudi Electricity Company and Haji Abdullah Alireza. Its JV with Técnicas Reunidas has already received the Limited Notice to Proceed. A large-scale 3GW combined cycle gas-fired power plant, Qurayyah IPP will come up in the kingdom's Eastern Province. The project will also be equipped with readiness for carbon capture and include a 380 kV electrical substation. On the big win, Orascom Construction CEO Osama Bishai said: "We continue to deliver on our geographic diversification strategy with a particular focus on key sectors such as power and water. This project exemplifies the type of opportunities that we actively pursue where we can leverage our expertise to deliver high-quality projects and maximum value." Orascom Construction, he stated, has a track record of projects completed and under construction in the Middle East and Africa with a total capacity exceeding 30 GW, including two 4.8 GW combined cycle gas-fired power plants constructed in Egypt. "It also builds on our success in the power sector most recently in Egypt, and we look forward to making a similar significant impact in Saudi Arabia. We are also pleased to partner with Técnicas Reunidas on this large-scale project and to extend our partnership in Saudi Arabia and the region," he noted.
