Power Mech Projects Limited has announced that its subsidiary, Power Mech Arabia Contracting Company, incorporated under the laws of the Kingdom of Saudi Arabia, has entered into a contract with a joint venture of the Branch of Elsewedy Electric Power Systems Projects and the Branch of Sinohydro Corporation Limited. The contract, aggregating to approximately ₹492 crore (excluding taxes), is for the Rabigh 2 IPP Expansion Project.
The main work is valued at USD 40,982,353, equivalent to approximately ₹386.87 crore (excluding taxes). An optional scope is valued at USD 11,136,756, equivalent to approximately ₹105.13 crore (excluding taxes). Together, the two aggregate to USD 52,119,109, equivalent to approximately ₹492 crore (excluding taxes).
The awarding entity is the joint venture of the Branch of Elsewedy Electric Power Systems Projects, described as a branch of a foreign company registered under the laws of the Kingdom of Saudi Arabia, and the Branch of Sinohydro Corporation Limited, a branch legally registered in Riyadh City under the laws of the Kingdom of Saudi Arabia.
The scope of work covers the installation of three Heat Recovery Steam Generators (HRSGs) and one Steam Turbine for Block 10, along with the Balance of Plant (BOP) combined cycle piping for Block 20 and Common, for the Rabigh 2 IPP Expansion Project. The optional scope involves the installation of Balance of Plant combined cycle piping for Block 10.
The contract is of an erection nature and has been awarded by an international entity. The contract period is 20 months, effective from January 1, 2027.
