General Electric, Saudi Electricity Co. sign $300 million gas-turbines deal
December 7, 2011
General Electric Company (GE) has signed a $300 million deal to provide natural-gas turbines for the Saudi Electricity Company (SEC) as part of a project to expand six power plants, according to an announcement made by GE on December 5. Over the past five years, the U.S. company has supplied nearly 200 turbines to the SEC. According to the latest deal, the Saudi utility will purchase thirteen new turbines, along with the related technical services, for an expansion that will add 800 megawatts of power to the Kingdom’s grid by mid-2013. The turbines, which will be built at GE’s factory in Greenville, South Carolina, will be delivered between the fourth quarter of 2012 and the first quarter of 2013.