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Saudi Aramco Cogeneration Plants

Announcement of contract

December 2003

Commissioning

Throughout 2006

Commercial operation

Phased in between March 2006 and December 2006

Output

1,075MW and 4.4 million lb/h steam

Plant type

Cogeneration

Location

Saudi Arabia (Ras Tanura, Ju'aymah, Shedgum and Uthmaniyah)

Lead finance arrangers

Arab National Bank, Banque Saudi Fransi and SAMBA Financial Group

Estimated investment

The 17-year term financing comprises a non-recourse $510m facility; total equity investment is $130m

Development, ownership and operation

Contracted to International Power and Saudi Oger

Engineering, procurement and construction contract

Awarded to a consortium led by Japan's Mitsui & Co. as prime contractor and coordinator

Subcontractors

Hyundai Heavy Industries Co., Ltd.

Technical advising services

Sargent & Lundy LLC

Legal advice

Clifford Chance and others

Gas turbines

GE

Fuel

Natural gas
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