Latest news with #QurayyahIPP
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
Zawya
24-03-2025
- Business
- Zawya
Orascom Construction, Técnicas Reunidas ink $2.6bln EPC contract for Saudi power plant expansion
Arab Finance: Orascom Construction and Técnicas Reunidas have signed a $2.6 billion engineering, procurement, and construction (EPC) contract to build the 3 GW Qurayyah IPP expansion project in Saudi Arabia's eastern province, as per a disclosure. The joint venture, in which both companies hold equal stakes, will develop the combined cycle gas-fired power plant, which will be prepared for carbon capture and include a 380 kV electrical substation. The EPC contract was signed with Hajr Two Electricity Company, a consortium comprising ACWA Power, Saudi Electricity Company, and Haji Abdullah Alireza & Co. Ltd. Orascom Construction and Técnicas Reunidas have already received the Limited Notice to Proceed. Orascom Construction has been involved in power projects across the Middle East and Africa, with a total capacity exceeding 30 GW, including two 4.8 GW combined cycle power plants in Egypt. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
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.
