{"id":662887,"date":"2025-03-24T00:00:00","date_gmt":"2025-03-24T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2025\/03\/24\/orascom-construction-to-co-build-usd-2-6-bn-power-plant-in-ksa\/"},"modified":"2025-03-24T00:00:00","modified_gmt":"2025-03-24T00:00:00","slug":"orascom-construction-to-co-build-usd-2-6-bn-power-plant-in-ksa","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2025\/03\/24\/orascom-construction-to-co-build-usd-2-6-bn-power-plant-in-ksa\/","title":{"rendered":"Orascom Construction to co-build USD 2.6 bn power plant in KSA"},"content":{"rendered":"

Good afternoon, everyone. <\/strong>Like the weather, the news cycle is warming up. This issue contains all you need to know about Orascom Construction\u2019s plans for a power plant in KSA, Washington\u2019s efforts to broker a ceasefire in Ukraine, and what you need to do to protect your information before you travel to the US.<\/p>\n

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THE BIG STORY TODAY<\/p>\n

Orascom Construction and Spain\u2019s Tecnicas to build USD 2.6 bn power <\/strong>plant in KSA: <\/strong>A 50-50 JV between Orascom Construction and Spain-based general contractor Tecnicas Reunidas<\/a> has inked a contract to build a USD 2.6 bn, 3 GW combined cycle gas-fired power plant in Saudi Arabia\u2019s Eastern Province as part of the Qurayyah IPP expansion project<\/a>, according to a statement (pdf)<\/a>. The engineering, procurement and construction (EPC) contract was awarded by Hajr Two Electricity Company \u2014 a consortium of Saudi renewables giant ACWA Power, Saudi Electricity Company (SEC), and Haji Abdullah Alireza & Co (Haaisco). <\/p>\n

More on the facilities: <\/strong>The 3.01 GW combined-cycle gas turbine (CCGT) power plant will be equipped with carbon capture technology and a 380 kV electrical substation.<\/p>\n

Background: <\/strong>SEC and Acwa Power signed a SAR 13.4 bn power purchase agreement with the Saudi Power Procurement Company for the project last month. SEC and Acwa Power each hold a 40% stake in the project, while Haaisco owns the remaining 20%. The existing USD 668.3 mn Qurayyah IPP project \u2014 touted as the world\u2019s largest CCGT power plant \u2014 has a net generation capacity of 3.9 GW and began commercial operations back in 2015.<\/p>\n

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THE BIG STORY ABROAD<\/p>\n

The foreign press is honed in on Washington\u2019s continued push for a ceasefire in <\/strong>Ukraine: <\/strong>US and Russian officials launched talks<\/a> in Saudi Arabia today to negotiate a ceasefire in Ukraine, with the US reportedly prioritizing a maritime ceasefire in the Black Sea before moving to a broader ceasefire agreement. Earlier statements by White House national security adviser Mike Waltz to CBS had indicated that the talks would also focus on \u201cthe line of control\u201d between Russia and Ukraine, which would entail \u201cverification measures, peacekeeping, freezing the lines where they are.\u201d The discussions come after Washington held talks<\/a> with Ukrainian officials in the Gulf nation yesterday as part of US President Donald Trump\u2019s intensified push toward ending the three-year war.<\/p>\n

MEANWHILE-<\/strong> South Korea\u2019s Con<\/strong>stitutional Court <\/strong>reinstated<\/a><\/strong> Prime Minster Han Duck-Soo <\/strong>as acting president<\/strong>, overturning his impeachment. Han, who had been suspended since December 27, immediately pledged to focus on navigating South Korea through what he called a \u201ctrade war\u201d with the US. Han had temporarily replaced President Yoon Suk Yeol, who was impeached in December<\/a> for briefly imposing martial law. He currently awaits a verdict on his impeachment, expected within days, as well as a separate criminal trial for alleged insurrection. If Yoon is removed, a new presidential election must be held within 60 days. <\/p>\n

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