International Power and Saudi Oger Sign for $430 MillionTihama Power Expansion
Posted on April 30, 2012 at 04:01 AM EDT
JOHANNESBURG--April 30, 2012--Written by Richard Finlayson, Senior International Editor for Industrial Info Resources (Sugar Land, Texas)--A major expansion in power and steam production will result from the signing of energy conversion agreements (ECAs) by Saudi Aramco (Riyadh) with Saudi Oger Limited (Riyadh) and International Power (OTC:IPRPY) (London, England), which is 70% owned by GDF Suez (OTC:GDFZY) (Paris, France), at their power sites in Tihama, Saudi Arabia. Other companies featured: Hyundai Heavy Industries (KSX:009540), General Electric (NYSE:GE)