Saudi Electricity awards France’s Engie $1.2bn power station contract

Saudi Electricity Co. said that in partnership with Saudi Aramco, it had awarded a contract to French utility company Engie to build a 1,504 megawatt power plant.
The Fadhili power plant will be built at a cost of $1.2 billion and owned 30 percent by Saudi Electricity, 30 percent by Aramco and 40 percent by private sector partners, the statement said. 
The plant will be operational by December 2019 and financing will be raised through the partners and other external sources.