Siemens wins $1 bln order in Middle East
Siemens Energy wins one of its largest MidEast orders.
February 21, 2011 12:38 by Reuters
Siemens has won a more than $1 billion contract to supply power plant components to Saudi Arabia, one of its largest orders in the Middle East, the German industrial conglomerate said on Monday.
The purchaser is a consortium comprising Al Arrab Contracting Company, Saudi Arabia and China’s Sepco lll Electric Power Construction Corp.
Commercial operation of the Ras Az Zawr power plant with integrated water desalination water facility, located around 75 kilometers northwest of Jubail, is scheduled to start in early 2014.
The plant will generate electricity for an aluminum smelter and drinking water for the capital city of Riyadh.
Siemens said Saudi Arabia is an attractive power generation market, with its 28 million population expected to increase to 40 million in the next ten years.
Last week, Siemens said that it would invest hundred of millions of dollars to build a factory in Saudi Arabia, which has been wooing industrial companies in a bid to diversify its economy.
(Reporting by Marilyn Gerlach; Editing by Erica Billingham)