Emaar, The Economic City (Emaar E C), the company developing King Abdullah Economic City (KAEC) in Jeddah, has signed a Memorandum of Understanding (MoU) with Siemens for setting up a 110/380KV power generation grid within KAEC.
Dr Abdulraouf Mannaa, managing director, Emaar.E.C, and Eng Kareem Al Amoudi, vice president, Siemens AG, signed the MoU, which covers the first phase of the project and includes a comprehensive plan including future networking with the Saudi Electricity Company.
Dr Mannaa said: “The MoU with Siemens signals our commitment to provide KAEC with the latest in technology. We wanted to partner with a company that has a long history and extensive expertise in the sector. Siemens has proven track record in establishing power generation grids and will establish a network of international standards for KAEC.”
Eng Al Amoudi added: “KAEC is one of the pioneering projects in the Kingdom and sets new standards in project development, quality and use of technology. We are proud to be part of this huge project, especially in supporting KAEC to meet its energy needs.”
The MoU will develop the power grid for KAEC in two phases. The first part, to be completed by the end of 2008, includes three main power stations of 110 KV and its network. The second phase of work, scheduled to begin in September 2008 and complete in June 2010, includes four main power stations of 380 KV and its network. The power grid will serve the first phase of the Industrial Zone, Residential area, villas within the Resort, golf course and the Sea Port.
The financial details of the deal were not released.
KAEC is the single largest private sector-led project in the region and has six key components: the Sea Port, Industrial Zone, Central Business District (including the Financial District), Resort District, Educational Zone and Residential Communities. Work is progressing on the Industrial, Residential and Resort Zones. Potential investors can visit the Presentation Centre at KAEC for more details and registration. - TradeArabia News Service