Saudi Electricity Company announced that it has signed a contract worth US$ 1.3 billion to build a power plant outside Riyadh. The plant with a capacity of 2,175 megawatts is to be built in 36 months in an area 100 km (60 miles) northwest of Riyadh, as per company statements. The same sources added that it will be the 12th plant in the Riyadh area.
Founded in 2000, SEC provides electric power generation, transmission and distribution throughout the Kingdom of Saudi Arabia and water desalination services.
The Mena Weekly Monitor, Bank Audi