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Article: Saudi Arabia: Banking groups form for Ras al Zour water and power plant.
- Article from:
- TendersInfo
- Article date:
- July 1, 2008
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Byline: ismail05
Banking groups have formed for the $5.5bn independent water and power project at Ras al-Zour in Saudi Arabia, following the submission of bids by three of the shortlisted developers on 28 June.
The plant will have capacity of 220 million gallons a day of water and 850-1,100MW. The project sponsor, Saudi Arabia's Water and Electricity Company (WEC), is now evaluating the bids.
A consortium of the local Acwa Power and South Korean Electric Power Corporation (Kepco) was the last to secure bank commitments, and is now working with Gulf International Bank, BayernLB, Korea's Woori Bank, and Samba.
It submitted an offer of ...