GE wins contract

NEW YORK: General Electric (GE) announced on Thursday that it had won a contract worth nearly $1 billion from the Saudi Electricity Company to build and supply a power plant in northern Saudi Arabia. Under the contract, GE will build the Waad Al Shamal combined-cycle power plant and provide four advanced gas turbines, a steam turbine and turbine maintenance services. The 1,390MW plant, which also will have solar technology, will be able to provide the equivalent power needed to supply more than 500,000 Saudi homes.