Orascom Construction, Técnicas Reunidas ink $2.6B EPC contract for Saudi power plant expansion
Updated 3/24/2025 9:50:00 AMArab Finance: Orascom Construction and Técnicas Reunidas have signed a $2.6 billion engineering, procurement, and construction (EPC) contract to build the 3 GW Qurayyah IPP expansion project in Saudi Arabia’s eastern province, as per a disclosure.
The joint venture, in which both companies hold equal stakes, will develop the combined cycle gas-fired power plant, which will be prepared for carbon capture and include a 380 kV electrical substation.
The EPC contract was signed with Hajr Two Electricity Company, a consortium comprising ACWA Power, Saudi Electricity Company, and Haji Abdullah Alireza & Co. Ltd.
Orascom Construction and Técnicas Reunidas have already received the Limited Notice to Proceed.
Orascom Construction has been involved in power projects across the Middle East and Africa, with a total capacity exceeding 30 GW, including two 4.8 GW combined cycle power plants in Egypt.
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