Técnicas Reunidas and Orascom Construction have signed a 2,6 b$ contract for a large combined cycle in Saudi Arabia

• The total value of the EPC contract is more than 2.6 billion dollars, of which 50% corresponds to Técnicas Reunidas.
• This new contract is in full alignment with Técnicas Reunidas' strategy in terms of energy transition and decarbonisation, as it is an electrification project that also includes carbon capture.
• Técnicas Reunidas and Orascom Construction have signed, under a 50-50 joint venture, the Engineering, Procurement and Construction (EPC) contract to build the Qurayyah IPP Expansion Project, a large-scale 3 GW combined cycle gas-fired power plant in the Eastern Province in Saudi Arabia.
• The client is a consortium participated by ACWA Power and Saudi Electricity Company (SEC).
• This project is part of the three combined cycles in the Middle East, with a total installed capacity of 7.3 GW —6 GW of which are in a joint venture with Orascom Construction— and totaling more than 2,200 million euros of awards for Tecnicas Reunidas, that the
  company announced at its Full Year 2024 results presentation.

Técnicas Reunidas and Orascom Construction have signed, under a 50-50 joint venture, an Engineering, Procurement and Construction (EPC) contract to build the Qurayyah IPP Expansion Project, a large-scale 3 GW combined cycle gas-fired power plant in the
Eastern Province in Saudi Arabia.

The total value of the EPC contract is more than USD 2.6 billion, of which 50% corresponds to Técnicas Reunidas and the duration of the execution of the project is estimated in 44 months until commercial operation.
The project will also be equipped with readiness for carbon capture and include a 380 kV electrical substation.
Técnicas Reunidas and Orascom Construction have signed the EPC contract with a consortium participated by ACWA Power, the main developer of power generation, desalinated water plants and hydrogen of the Middle East, and Saudi Electricity Company, SEC, the Saudi electric energy company responsible of the generation, transmission and distribution of electric power in Saudi Arabia.

This project is part of the three combined cycles in the Middle East that the company announced at its Full Year 2024 results presentation, with a total installed capacity of 7.3 GW—6 GW of which are in a joint venture with Orascom Construction— and totaling more than 2,200 million euros of awards for Tecnicas Reunidas.

Tecnicas Reunidas has been executing the Limited Notice to Proceed scope of these three projects during the fourth quarter of last year and first quarter of present year, advancing with the engineering services, reservation of the main equipment and geotechnical studies.

The strong industrial development of the Arab country, the operation of its desalination plants and the objective of promoting decarbonization through the use of more efficient facilities with lower emissions are significantly increasing its energy needs. Therefore, the Saudi Arabian government has recently launched a Capacity Addition Program, in which this CCGT is included.

About Técnicas Reunidas
Técnicas Reunidas is a leading Spanish global engineering firm, with over 60 years of experience executing more than 1,000 industrial plants around the world and presence in 25 countries.

The company is specialized in the design and construction of industrial plants dedicated to the production of clean fuels, natural gas and petrochemical plants. The company is also at the cutting edge of technology solutions related to energy transition, circular
economics and decarbonization of industrial plants. These solutions encompass technologies like green hydrogen and its derivatives, biofuels, biochemicals and carbon capture. With a workforce of more than 12,000 employees, most of whom are highly qualified engineers, Técnicas Reunidas’ headquarters in Spain is an important center of engineering excellence.