The lowest bid to build a new oil-fired power plant in Jeddah for state-controlled Saudi Electricity Company has been submitted by South Korean group Hyundai Heavy Industries.
A Reuters report, citing industry sources, said Hyundai Heavy Industries was in the process of bidding for the Jeddah South power plant, but declined to provide further details.
The sources said Daelim Industrial was second-lowest, while Samsung C&T was third.
A consortium comprising Doosan Heavy Industries and Hyundai Engineering and Construction came fourth, while French group Alstom and Saudi Arabia’s Bemco were fifth.
A consortium of Germany’s Siemens, Japan’s Marubeni and Turkey’s Gama submitted the highest price for the 2,400MW Jeddah South plant.
It is expected to be completed by 2016, the report said.