South Korean Builder Wins $624M Saudi Power Contract

Law360, New York (May 17, 2012, 4:15 PM EDT) -- State-owned Saudi Electricity Co. has signed a $624 million contract with South Korea's GS Engineering & Construction Corp. to build a new gas-fired power plant near Riyadh, GS said Thursday, as part of oil-rich Saudi Arabia's plan to invest $107 billion in new generating capacity over the next decade.

GS Engineering & Construction confirmed the size of the contract in a regulatory filing on Thursday, and added that the construction period for the 2,175-megawatt plant, about 70 miles outside the capital city, would last 36 months....
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