General Electric Wins $700 Million Saudi Contract

General Electric (NYSE: GE  ) is eager to begin a desert campaign.

On Tuesday, the industrial behemoth announced that it has signed a $700 million contract to supply the Saudi Electricity Company with additional F-class combined-cycle gas turbines, associated equipment, and related services.

GE turbines are already in place at Saudi Electricity's power plants Nos. 9 through 12. And indeed, GE boasts that "GE equipment assists in the generation of more than half of Saudi Arabia's power supply."

Now, GE says it expects its equipment to "provide significant fuel savings and lower emissions" at Saudi Electricity's large, combined-cycle power plants Nos. 13 and 14 as well, helping the customer to produced 3.8 gigawatts of electric power from natural gas. The new "PP13" and "PP14" will feature 12 GE 7F-5 gas turbines, four GE steam turbines, and 16 generators.

GE will begin delivering the turbines in early 2015. It will also provide maintenance services at both PP13 and PP14 for eight years, the cost of which is included in the overall quote of $700 million. 


Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2744425, ~/Articles/ArticleHandler.aspx, 12/19/2014 7:24:24 PM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...


Advertisement