Consortium wins $2.8bn Saudi power deal

POWER SURGE: A consortium has won a contract to expand capacity at a power plant near Jeddah. (Getty Images)

A consortium led by France's Alstom Power has won a $2.88 billion contract to expand the capacity of a power plant in Saudi Arabia, the kingdom's power utility said on Monday.

Saudi Electricity signed on Monday the contract with the consortium which also includes a Saudi partner, the state-controlled company said in a statement posted on the bourse website.

Saudi Electricity said the contract was to add 1,191 megawatt to the Shuaiba power plant, which is located near the western city of Jeddah, the country's second most populous city. The delivery of the contract was fixed for 2012, it added.

Alstom said in July that it had won a contract to build for Saudi Electricity a 1,200 megawatt power plant at Shuaiba. (Reuters)

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