GE signs $500m deal with Saudi company
In the first agreement, GE Energy has received a contract to supply gas turbine-generators for the 960-megawatt expansion of the Rabigh Power Plant in Rabigh City, on the west coast of Saudi Arabia. The project is part of SEC's initiative to provide additional power to support the region's economic and population growth.
In addition to the Frame 7EA gas turbines at the Rabigh site, GE's scope of supply includes Type 7A6 generators, technical advisory services during installation and spare parts. The EPC contractor for the project is the National Contracting Company Limited of Al-Khobar, Saudi Arabia.
Further expanding its presence in the Middle East's rapidly growing power industry, GE Energy also has received a contract for gas turbines that will be used by four power plants owned by SEC.
"These projects are part of SEC's on-going efforts to meet the region's soaring power demand," said Joseph Anis, GE Energy's Region Executive for the Middle East.
"Our capability to provide gas turbine technology with a short delivery cycle, plus the proven reliability of our gas turbine technology, were key factors in winning these contracts," he said.
The GE gas turbines and generators will be manufactured at GE Energy's facilities in Greenville, South Carolina, and Schenectady, New York, respectively.
More than 750 of GE's Frame 7EA gas turbines are in service worldwide, and have accumulated millions of hours of service in a wide variety of applications.
"Demand for power is growing at an estimated eight per cent per annum in Saudi Arabia. As the leading electricity supplier in the Kingdom, SEC consistently adapts to the evolving conditions to meet the increasing demand. Our relationship with GE, which spans over 40 years, has played an integral role in enabling us to successfully meet the need for additional power supply through efficient solutions. These deals will further cement our relationship with the company," said Ali Saleh Al Barrak, President and Chief Executive of SEC.
GE maintains a workforce of more than 600 employees in the oil-rich Gulf Kingdom with offices in Jeddah, Riyadh and the Eastern Province, as well as joint ventures in the fields of energy, healthcare and appliances.
GE's current business portfolio in Saudi Arabia includes power and water, transportation and healthcare, in addition to new opportunities in financial services and advanced materials.