http://www.marketwatch.com/news/story/suez-led-group-gets-34-bln/story.aspx?guid=%7BFEA0D8A9%2DFBB8%2D47B8%2D9559%2D3BF320214216%7D
Suez-led group gets $3.4 bln Saudi power, water contract PARIS (MarketWatch) -- Suez Energy International, a unit of the French energy group Suez (12052.FR), said Wednesday a consortium that it leads has been awarded a $3.4 billion contract to build the world's largest power and desalination project. Suez's partners are Gulf Investment Corp. and Arabian Company for Power & Water Projects. The consortium will own 60% of the project. The project will make Suez the leading power production developer in the Middle East, and will lift its total power capacity in the region to 8,200 megawatts. The BOOT (build, own, operate and transfer) contract is for a power station with a capacity of 2,750 MW, and a 800,000 cubic meters per day desalination facility, to be located at Jubail, northeastern Saudi Arabia. The contract was awarded by the Power and Water Utility Company for Jubail and Yanbu (Marafiq), and will supply water and electricity to industrial and non-industrial customers in the Jubail Industrial City and eastern province. The sale of the plant's entire energy and water output to the off-taker Marafiq is guaranteed under a 20-year Power and Water Purchase Agreement. The project will be funded by debt and equity in a ratio of 82:18, and the contract will generate a total turnover of $8.5 billion over 20 years, Suez said. The Marafiq project represents approximately 10% of current total installed capacity in Saudi Arabia of 29,000 MW, which is planned to increase to 60,000 MW by 2020 to meet the country's rapidly increasing energy demand. The desalination plant will also be a substantial contributor to the country's water supply when it comes online in July 2009. The Suez-led consortium has appointed GE Power Systems, part of General Electric Co. (GE), Hyundai Heavy Industries Co. (009540.SE) and Sidem, as the contractors to build the facility, a Suez spokeswoman told Dow Jones Newswires. The project will come on stream in four phases between July 2009, when the plant will start up producing 650 MW of power and 267,000 cm/d of desalinated water, and February 2010, when it will reach its full production capacity, the spokeswoman said. Saudi Arabia, the world's largest oil producer, needs international investors to help it meet soaring demand for electricity and water as the country's economy continues to expand on the back of high oil prices. +++ -------------------------- Want to discuss this topic? Head on over to our discussion list, [EMAIL PROTECTED] -------------------------- Brooks Isoldi, editor [EMAIL PROTECTED] http://www.intellnet.org Post message: osint@yahoogroups.com Subscribe: [EMAIL PROTECTED] Unsubscribe: [EMAIL PROTECTED] *** FAIR USE NOTICE. This message contains copyrighted material whose use has not been specifically authorized by the copyright owner. OSINT, as a part of The Intelligence Network, is making it available without profit to OSINT YahooGroups members who have expressed a prior interest in receiving the included information in their efforts to advance the understanding of intelligence and law enforcement organizations, their activities, methods, techniques, human rights, civil liberties, social justice and other intelligence related issues, for non-profit research and educational purposes only. We believe that this constitutes a 'fair use' of the copyrighted material as provided for in section 107 of the U.S. Copyright Law. If you wish to use this copyrighted material for purposes of your own that go beyond 'fair use,' you must obtain permission from the copyright owner. For more information go to: http://www.law.cornell.edu/uscode/17/107.shtml Yahoo! Groups Links <*> To visit your group on the web, go to: http://groups.yahoo.com/group/osint/ <*> Your email settings: Individual Email | Traditional <*> To change settings online go to: http://groups.yahoo.com/group/osint/join (Yahoo! ID required) <*> To change settings via email: mailto:[EMAIL PROTECTED] mailto:[EMAIL PROTECTED] <*> To unsubscribe from this group, send an email to: [EMAIL PROTECTED] <*> Your use of Yahoo! Groups is subject to: http://docs.yahoo.com/info/terms/
