South Korea-based Samsung C&T has been awarded a $2.1bn contract to construct a thermal power plant in Qurayyah, Saudi Arabia.

Samsung formed a consortium with Saudi developer ACWA Power International and MENA Fund to operate the 4,000MW plant and supply electricity to Saudi Electric Company.

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The consortium is expected to complete the plant by 2014, reports AFP.

Samsung said the Saudi firms would each hold a 50% stake in the consortium.

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