Sepco 3 and Doosan to undertake Rumah 1 and Nairiyah 1
19 November 2024
China’s Sepco 3 and South Korea’s Doosan Enerbility will undertake the engineering, procurement and construction (EPC) contract for the project to develop the Rumah 1 and Nairiyah 1 combined-cycle gas turbine (CCGT) projects in Saudi Arabia, according to an industry source.
A consortium comprising Saudi Electricity Company (SEC), Riyadh-based utility developer Acwa Power and South Korea’s Korea Electric Power Corporation (Kepco) won the contract to develop the two CCGT independent power projects (IPP).
The consortium signed the power-purchase agreements (PPAs) for the two projects with the principal buyer, Saudi Power Procurement Company (SPPC), on 18 November in Riyadh.
The Rumah 1 and Nairiyah 1 IPPs will each have a capacity of 1,800MW.
According to a local media report, the SEC, Acwa Power and Kepco team offered a levelised electricity cost (LCOE) of $cents 4.5859 a kilowatt-hour (kWh) for Rumah 1, and $cents 4.6114/kWh for Nairiyah 1.
Acwa Power said in a statement that the two IPPs will require a combined investment of approximately SR15bn ($4bn).
The IPPs are expected to reach commercial operations in Q2 2008.
Rumah 1 is located in the Central Region in Riyadh and is part of the previously planned Riyadh Power Plant 15 (PP15). Nairiyah 1 is located in the Eastern Region.
SPPC received bids for the contracts for four thermal IPPs – the other two being the similarly configured Rumah 2 and Nairiyah 2 – on 21 August.
SPPC previously indicated that the four power plants would operate using natural gas combined-cycle technology with a carbon-capture unit readiness provision.
The four power generation facilities will be developed using a build-own-operate (BOO) model over 25 years.
SPPC’s transaction advisory team for the Rumah 1 and 2 and Al-Nairiyah 1 and 2 IPP projects comprises US/India-based Synergy Consulting, Germany’s Fichtner and US-headquartered Baker McKenzie.
Awarded gas-fired IPPs
SPPC awarded contracts to develop four gas-fired power generation IPP projects last year.
A consortium comprising SEC and Acwa Power signed the 25-year PPAs with SPPC to develop and operate the Qassim 1 and Taiba 1 IPP projects on 13 November 2023. Each plant has a capacity of 1,800MW. The two projects are valued at SR14.6bn ($3.9bn).
China’s Sepco 3 is undertaking the engineering, procurement and construction contract for the two projects, while US-based GE is supplying the CCGT for the power plants.
A team comprising Jomaih Energy & Water, France’s EDF and the local Buhur for Investment won the contract to develop the 1,800MW Taiba 2 IPP and 1,800MW Qassim 2 IPP schemes.
Each project is being developed on a BOO basis by the winning consortiums, which will be 100% owned by the successful bidders.
Photo credit: Acwa Power
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Dubai seeks consultants for drainage projects6 February 2026
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Modon tenders Ras El-Hekma construction contracts6 February 2026
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Egypt contractor secures €58m loan for Hungary power plant6 February 2026
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AD Ports signs Jordan Aqaba port PPP deal6 February 2026
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Chinese firm wins Ceer automotive supplier park deal6 February 2026
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The bid submission deadline is 26 February.
The first scheme under the package is TF-16-C1, which involves upgrading and rehabilitating the stormwater system east of the Dubai Canal.
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Modon tenders Ras El-Hekma construction contracts
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Abu Dhabi-based developer Modon Holding has tendered several contracts as part of the first phase of development at Ras El-Hekma, a planned new city on Egypt’s Mediterranean coast.
MEED understands that the tenders were issued in January.
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Modon has accelerated development works at Ras El-Hekma this year. In January, MEED reported that Modon Holding had awarded a E£15bn ($316m) contract for the construction of a project at Ras El-Hekma.
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The signing ceremony was held at the Aqaba Special Economic Zone Authority headquarters in Aqaba on 5 February.
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The announcement followed AD Ports Group’s signing of a shareholders’ agreement in January 2024 between its digital arm, Maqta Gateway, and Jordan’s Aqaba Development Corporation regarding their existing joint-venture company, Maqta Ayla.
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Chinese firm wins Ceer automotive supplier park deal
6 February 2026
Beijing-headquartered Metallurgical Construction Corporation (MCC) has won a contract to undertake the steel structure works on the Ceer automotive supplier park in King Abdullah Economic City (KAEC).
The supplier park is located next to Ceer’s electric vehicle (EV) production facility in KAEC.
The automotive supplier park will include production and ancillary facilities for various suppliers and provide the material supply infrastructure for Ceer’s EV plant.
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