Thursday, January 26, 2017

Saudi Arabia terminates Samsung power plant contract

Saudi government has terminated a contract awarded to South Korea’s Samsung Engineering for building a 3,100-megawatt power and desalination plant on the Red Sea coast in the industrial city of Yanbu,  due to differences over the final construction terms, said a report.

The engineering, procurement and construction (EPC) contract for the $3-billion project was awarded by state-owned Saline Water Conversion Corporation to a consortium led by the Korean company in 2012, reported Pulse News.

Samsung was the main constructor for the power plant, commanding half, or $1.5 billion in lump-sum contract value, it stated.

About 55 per cent of the construction has been completed, said the report, citing a source.

The contract was initially due to be completed by December 28 last year, but pushed back to August 25 next year upon agreement, it added.



from Construction Realestate Readmore công ty pacific travel


Links topic: https://www.wegocasablanca.com/2017/01/saudi-arabia-terminates-samsung-power.html