Saudi Aramco is planning to launch a new investment program by signing an agreement to carry out a number of electrical projects using dual generating systems, which will benefit the company by promoting joint foreign and Saudi investments.
Saudi Aramco will be responsible for connecting the new projects, which are worth over SR2 billion, with current utilities.
The President and Senior Executive Director of Saudi Aramco, Abdullah bin Saleh bin Jumaah, said that this large investment project would be integrated with the Kingdom’s plans to develop its electrical network and will benefit from the abundance of gas supplies in the Kingdom.
A group of two Saudi and foreign companies will carry out the project to develop and operate industrial facilities to generate electricity and steam in Aramco’s four operation areas in the Eastern Region. The new projects will produce electrical power exceeding one thousand Megawatts, and over 4 million pounds of steam per hour. The project’s execution is expected to commence in mid-2004, and will be completed during 2006.
Source: SPA
