Project FinanceData
Elsewedy Electric and Sinohydro awarded USD 2.2bn Rabigh 2 contract
The EPC agreement covers 2.3 GW of additional capacity at the Saudi facility with a 2029 target completion date.
Elsewedy Electric and Sinohydro have been awarded a USD 2.2 billion engineering, procurement and construction contract for the Rabigh 2 power expansion in Saudi Arabia. The agreement covers the addition of 2.3 gigawatts of generating capacity at the existing Rabigh facility, with a target completion date set for 2029.
EPC scope and capacity addition#
The contract assigns Elsewedy Electric and Sinohydro joint responsibility for engineering, procurement and construction activities required to deliver 2.3 GW of new power generation capacity. The expansion will increase the total output of the Rabigh complex, which already operates as a significant generation asset on Saudi Arabia's western coast. The EPC scope includes plant design, equipment supply, installation and commissioning of the additional units.
Contract value and completion timeline#
The total contract value stands at USD 2.2 billion, covering all engineering, procurement and construction deliverables through to handover. The parties have set 2029 as the target year for project completion, establishing a roughly five-year execution window from contract signature. The timeline accounts for design finalisation, equipment manufacturing lead times, site construction and testing phases required to bring the new capacity online.
Counterparties and project location#
Elsewedy Electric, an Egyptian engineering and manufacturing firm, and Sinohydro, a Chinese state-owned construction enterprise, form the contracting consortium. The Rabigh 2 expansion is located at the existing Rabigh power and desalination complex on Saudi Arabia's Red Sea coast, approximately 150 kilometres north of Jeddah. The site already houses operational generation and water production facilities, and the expansion will be integrated with existing infrastructure.
Capacity and grid integration#
The 2.3 GW addition represents a substantial increment to the Rabigh site's generating capacity, which will feed into the Saudi national grid upon commissioning. The new units will operate alongside the existing Rabigh 1 facilities, which have provided power and desalinated water to the western region since their commissioning. Grid connection and transmission infrastructure required to evacuate the additional 2.3 GW will be completed as part of the broader project scope, ensuring the new capacity can be dispatched when operational in 2029.
Sources1 source across 1 domain
- forbesmiddleeast.comForbes Middle EastUSD 2.2 billion contract value, 2.3 GW capacity, 2029 completion target, Elsewedy Electric and Sinohydro as contractors
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