Elsewedy Electric Wins $2.2 Billion Saudi Power Contract

Ahmed Elsewedy’s company, Elsewedy Electric, has secured a $2.2 billion contract in collaboration with China’s Sinohydro to expand the Rabigh 2 Independent Power Plant in Saudi Arabia. The contract was awarded to a consortium that includes Elsewedy Electric Power Systems Projects and Sinohydro, with commercial operations expected to commence in May 2029.

The project aims to add 2.3 gigawatts (GW) of electricity generation capacity to Saudi Arabia’s national grid, aligning with the Kingdom's Vision 2030 economic transformation programme. The contract, awarded by Al Mourjan Two for Electricity Company, encompasses the engineering, procurement, and construction of a natural gas-fired power plant utilizing combined-cycle technology.

The consortium will manage the design, equipment supply, installation, construction, commissioning, and performance testing of the facility, which will include six Siemens gas turbines and two steam turbines. The project has already achieved over 39% progress and more than five million safe man-hours, emphasizing safety during construction.