Market Overview

GE Awarded $700M Contract by Saudi Electricity Company


GE (NYSE: GE) has signed a nearly $700 million contract with Saudi
Electricity Company (SEC) to bring additional F-class combined-cycle gas
turbines, and associated equipment and services, to the Kingdom of Saudi
Arabia. GE's technology will support SEC's large, combined-cycle power
plants to generate more than 3.8 gigawatts (GW) of power and will
provide significant fuel savings and lower emissions to meet today's
growing energy needs of the Kingdom.

“We chose GE once again for our largest project because of their
advanced technology, which features proven efficiency performance,” said
Mr. Ali Albarrak, president and CEO of SEC. “In addition, GE technology
has the ability to respond to dramatic daily changes in power demand

See full press release

Posted-In: News Guidance Contracts Management Global


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