RIYADH, Oct 8 (Reuters) - Saudi Electricity Co hasapproved the awarding of a 11.96 billion-riyal ($3.12 billion)contract to build a 2.7-gigawatt power plant in south Jeddah toan unidentified bidder, it said on Monday.
It said in a bourse statement that the plant, which will usesteam turbines, is to be built in 45 months.
Last month, Reuters reported that South Korean group HyundaiHeavy Industries was the low bidder on the project,citing industry sources.
The other bidders included Daelim Industrial ,Samsung C&T , a consortium of Doosan Heavy Industries and Hyundai Engineering and Construction, France's Alstom with Saudi Arabia'sBemco, and a consortium comprising Siemens Marubeni
and Turkey's Gama, the sources said.
The contract for the plant, which is expected to use oilfeedstock, will be signed in the coming months, SEC said in itsstatement.
It will be financed from the company's own balance sheet aswell as borrowing from the government and from local andinternational lenders, it said.
(Reporting By Angus McDowall; Editing by Alison Birrane)
((angus.mcdowall@thomsonreuters.com)(Reuters Messaging:angus.mcdowall.thomsonreuters.com@reuters.net))
Keywords: SAUDIELECTRICITY PLANT/AWARD