Saudi Energy Company

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Saudi Arabia's Rabigh 2 gas power expansion secures $2.58 billion financing

Holds 40% stake in the Rabigh 2 expansion

Saudi Arabia closed financing on October 1 for the Rabigh 2 power expansion, a 2,313.5-megawatt gas-fired plant in the kingdom's western province. A $2.2 billion construction contract was signed on October 13 with an Egyptian-Chinese joint venture, and construction is already more than 39% complete.

Updated Oct 14