Samsung-Led JV Wins $3B Saudi Arabia Power Plant Contract

Law360, New York (December 10, 2012, 2:04 PM EST) -- A consortium led by Samsung Engineering Co. Ltd. has been awarded a contract worth $3 billion to build a power and desalination plant in Yanbu, Saudi Arabia, Samsung announced Monday.

Samsung Engineering, China's Shanghai Electric Group and Saudi Arabian contracting and trading company Al Toukhi Group will build the 3,100-megawatt project over the next four years, according to the company.

The Saline Water Conversion Corp., Saudi Arabia's state-run operator of 30 publicly owned desalination plants, awarded Samsung Electronics an individual $1.5 billion contract to engineer, procure...
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