Samsung consortium wins $3 bln Saudi deal
AFP | HT Correspondent, Seoul
Dec 10, 2012 03:58 PM IST
An international consortium led by Samsung Engineering has secured a $3.0 billion deal to build a power and desalination plant in Saudi Arabia, the company said Monday.
An international consortium led by Samsung Engineering has secured a $3.0 billion deal to build a power and desalination plant in Saudi Arabia, the company said Monday.
Samsung said the consortium, involving China's Shanghai Electric and Saudi's Al Toukhi, would build the 3,100 megawatt facility in the Red Sea port of Yanbu -- home to a major industrial complex.
HT launches Crick-it, a one stop destination to catch Cricket, anytime, anywhere. Explore now!
Samsung is set to receive $1.5 billion of the total order value, the company said.
Another South Korean builder, Doosan Heavy Industries and Construction, said recently it had won a $1.0 billion deal to build a separate desalination plant in Yanbu by 2016.
Discover the complete story of India's general elections on our exclusive Elections Product! Access all the content absolutely free on the HT App. Download now!
Stay informed on Business News, TCS Q4 Results Live along with Gold Rates Today, India News and other related updates on Hindustan Times Website and APPs
Stay informed on Business News, TCS Q4 Results Live along with Gold Rates Today, India News and other related updates on Hindustan Times Website and APPs
Share this article