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Saudi Electricity Co. signs USD366 m loan agreement
(MENAFN) Saudi Electricity Co. (SEC) has announced the signing of a USD366 million loan deal with three major Japanese banks to finance the construction of a 2,650 megawatt power plant in Jeddah, according to Arab News.
The new project is part of a wider project, the Jeddah South project, worth USD2 billion.
The company will sign USD1.634 billion worth agreement with South Korea later this week to complete a facility in the Kingdom.
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