South Korea's KEPCO wins Saudi Jafurah power project, seen worth $1.4 bln

SAUDI ARAMCO

SAUDI ARAMCO

2222.SA

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SEOUL, June 4 (Reuters) - Korea Electric Power Corp (KEPCO) 015760.KS said it had won a contract to build and operate the second phase of a cogeneration power plant at Saudi Arabia's Jafurah project, expanding its presence in the kingdom's energy market.

The company expects total revenue of about 2.1 trillion won ($1.4 billion) from the project.

KEPCO said in a statment on Wednesday it signed the power and steam sales agreements with Saudi Aramco for the project and completed a construction contract with Doosan Enerbility 034020.KS.

The plant will have power generation capacity of 331 megawatts and produce about 465 metric tons of steam per hour. It is scheduled to be built by June 2029, after which it will supply power and steam for 17 years, KEPCO said.

KEPCO said the project is an expansion of the 317-MW first phase of the Jafurah cogeneration plant, which it won through an international tender in 2022 and expects to complete by the end of June.


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