South Korean heavy industrial company Doosan Enerbility (KRX:034020) secured a 2.2 trillion won engineering, procurement and construction (EPC) contract to build two 1,800-megawatt combined cycle power plants in Saudi Arabia, Yonhap News reported Thursday.
The Luma 1 and Nairiyah 1 projects are part of a broader contract won by a Korea Electric Power Corporation (KRX:015760)-led consortium, which includes Saudi Arabia's largest private independent power producer and the Saudi Electricity Company.
The deal was awarded via an international bid by the Saudi Power Procurement Company, the report said.
Shares of Doosan Enerbility rose nearly 2% in recent trade on Friday while those of Korea Electric Power increased 1%.
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