Hyundai Heavy Wins USD 3.3 Billion Power Plant Order in Saudi Arabia
Hyundai Heavy Industries Co., Ltd. (HHI), the world’s biggest shipbuilder and a leading industrial plant EPC contractor, announced that the Company won a USD 3.3 billion order from Saudi Electricity Company (SEC) on August 4 to build the Shuqaiq Steam Power Plant (SSPP) in Saudi Arabia.
Hyundai Heavy, as the sole EPC contractor, will carry out the construction of the 2,640MW oil-fired steam power project on a turnkey basis including engineering, procurement, construction, testing and commissioning. The Ulsan, South Korea-based EPC contractor will complete the project on the Red Sea coast, approximately 580 km to the south of Jeddah and 135 km north of Jazan, by 2017.
Hyundai Heavy also adopts the supercritical pressure power plant technology that the Company used in the USD 3.2 billion Jeddah South Thermal Power Plant (JSTPP) project it was awarded from SEC in October 2012. The supercritical pressure technology is used to generate electric power by operating at such a high steam pressure that it uses less fuel and emits less pollutant than other types of steam generators. Upon completion, the steam power plant will be able to produce enough electricity for about 2 million people.
The signing ceremony was attended by Dr. Saleh H. Al-Awaji, the Chairman of Board, Saudi Electricity Company, Mr. Ali Bin Saleh Al-Barrak, President & CEO of Saudi Electricity Company and Mr. Lee Jai-seong, President and CEO of Hyundai Heavy Industries, in Riyadh, Saudi Arabia.
In the Middle East, Hyundai Heavy has successfully completed and is currently executing about 16,000MW power and desalination plants worth USD 12.7 billion.
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Hyundai Heavy Industries Co., Ltd. (HHI) is the world's largest shipbuilding company, headquartered in Ulsan, South Korea. It has seven business divisions: Shipbuilding, Offshore & Engineering, Industrial Plant & Engineering, Engine & Machinery, Electro & Electric Systems, Construction Equipment, and Green Energy.
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