South Korea’s Doosan Wins $1.52 Billion Contract to Build Two Power Plants in Saudi Arabia

Doosan Energy announced it has been awarded a 2.2 trillion won ($1.52 billion) contract to build two combined-cycle power plants in the Kingdom.

According to Yonhap News Agency, the company signed the engineering, procurement, and construction (EPC) contract to build the 1,800-megawatt Loma 1 and Nu’ayriyah 1 power plants in the Middle Eastern country.

The deal is part of a larger construction project won by a consortium led by the Korea Electric Power Corporation (KEPCO) and including Saudi Arabia’s largest private independent power producer, the Saudi Electricity Company.

The Korean company was awarded the construction project through an international tender issued by the Saudi Power Procurement Company. “The contract underscores Doosan Energy’s construction expertise and competitiveness in the global energy sector, especially as energy demand continues to grow in the Middle East,” said Lee Hyun-ho, president of the company’s engineering, procurement, and construction division.