Energy Orascom wins $2.6bn contract for Saudi power plant By Pramod Kumar March 24, 2025, 12:07 PM Unsplash/Shraga Kopstein Orascom and Técnicas Reunidas have already received the notice to proceed with the engineering, procurement and construction contract A consortium comprising Egypt-listed Orascom Construction and Spain’s Técnicas Reunidas has signed a contract to build a 3 gigawatt gas-fired power plant in Saudi Arabia’s Eastern Province. The consortium signed an engineering, procurement and construction contract worth around $2.6 billion for expanding the Qurayyah independent power project, Orascom said in a statement on Monday. In addition, the project will be equipped with carbon capture facilities and a 380 kilovolt electrical substation. The contract was signed with Hajr Two Electricity Company, owned by a consortium of Acwa Power, Saudi Electricity Company and Haji Abdullah Alireza & Co. Orascom and Técnicas Reunidas have already received the notice to proceed, the statement said. Gulf oil companies turn up petrochemicals investment The Gulf’s energy transition aims to add, not subtract Adnoc targets Mubadala’s energy assets Orascom’s Middle East and Africa portfolio has a total capacity exceeding 30 GW, including two 4.8 GW combined cycle gas-fired power plants in Egypt. Last month, Saudi Electricity Company and Acwa Power signed a power purchase agreement with Saudi Power Procurement Company, the principal off-taker for the power project. Register now: It’s easy and free AGBI registered members can access even more of our unique analysis and perspective on business and economics in the Middle East. Why sign uP Exclusive weekly email from our editor-in-chief Personalised weekly emails for your preferred industry sectors Read and download our insight packed white papers Access to our mobile app Prioritised access to live events Register for free Already registered? Sign in I’ll register later
