The Shaw Group Inc announced that it has been awarded a multi phase contract with Saudi Electricity Company. Under the contract, Shaw will perform Phase III study to define and recommend operational improvements at 53 power plants throughout the Kingdom of Saudi Arabia. Once the study is complete, Shaw expects to contract with Saudi Electricity Company to provide the modification services for those plants.
Mr JM Bernhard chairman, president and CEO of Shaw said that "Shaw has a unique position in the power industry that allows us to provide multi-faceted services for our clients. In addition to the contracted work on the existing power plants, we believe our relationship and previous experience in the area, along with our leading position in the nuclear industry, positions us for significant future opportunities in Saudi Arabia and throughout the Middle East. We are looking forward to a long, successful relationship with Saudi Electricity Company."
Shaw's contract was signed just before King Abdullah of Saudi Arabia announced his country's commitment to the research and funding of nuclear power. A royal order was issued establishing the King Abdullah City for Nuclear and Renewable Energy a high level organization that will oversee all aspects of a nuclear power industry in Saudi Arabia.
Shaw recently completed a grassroots ethylene plant in Al Jubail, Saudi Arabia, and has operations and offices in locations throughout the region. Shaw offers a premier portfolio of nuclear, fossil and renewable power expertise, delivering safe, efficient and clean energy solutions around the world. Shaw and its consortium team member, Westinghouse, are under contract to provide engineering, procurement and construction services for six new nuclear units in the US, the first contracts awarded in nearly 30 years for new nuclear power plants, as well as 4 units currently under construction in China.
The undisclosed value of the contract will be included in Shaw's Fossil, Renewables & Nuclear segment's backlog of unfilled orders in the Q3 of fiscal year 2010.
