Samsung consortium wins $3 bln Saudi deal
Seoul, December 10, 2012
First Published: 15:53 IST(10/12/2012)
Last Updated: 15:58 IST(10/12/2012)
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.
The logo of Samsung Electronics is seen at the company's headquarters in Seoul. Credit: Reuters/Lee Jae-Won
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.
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.