Hyundai Heavy Wins $3.2B Saudi Power Plant Bid

Law360, New York (October 16, 2012, 1:46 PM EDT) -- Hyundai Heavy Industries Co. has won a $3.2 billion bid to build a thermal power plant for Saudi Electricity Co., Hyundai Heavy’s latest addition to its growing roster of Middle Eastern power and energy projects, the company said Tuesday.

The South Korean company will be the sole engineering, procurement, and construction contractor for Saudi Electricity’s Jeddah South Thermal Power Plant in Jeddah, Saudi Arabia — a project that is expected to produce 5 percent of Saudi Arabia’s power, Hyundai Heavy said in a statement Tuesday....
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