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28 May 2004

Mott MacDonald advises on the construction phase for Saudi Arabian power plant project

Mott MacDonald, acting as lenders’ engineer for a consortium of international banks with Banque Saudi Fransi of Saudi Arabia acting as the Facility Agent, is reviewing progress and providing advisory services for the construction phase of four separate power plants being built by Tihama Power Generation Company, a joint venture between International Power of the UK and Saudi Oger of Saudi Arabia for Saudi Arabian Oil Company (Saudi Aramco).

The US$600 million build, own, operate and transfer project is the first time Saudi Aramco – the world’s biggest oil producer – has outsourced cogeneration resources for any of its gas processing plants. The new gas fired cogeneration equipment – which will revert back to Saudi Aramco’s ownership after 20 years – will replace existing oil and gas fired steam facilities at four key Saudi Aramco operating sites, Uthmaniyah, Shedgum, and Ju'aymah gas plants and Ras Tanura refinery in the Eastern Province. The plants, which will produce over 1000 megawatts of electricity and more than 4 million pounds of steam per hour, will allow Saudi Aramco to lower its overall exhaust emissions from equipment used in its processing facilities.

Mott MacDonald has completed technical due diligence services on the projects and current work will last through the construction period and includes quarterly site visits to review progress on each site and ongoing reviews of the construction process for the lenders.

The project will be completed by end 2006

Ends

Note to editors
This is the second independent power project to reach financial close in Saudi Arabia. The first was the 250 MW Sadaf co-generation plant in Al Jubail and Mott MacDonald was also lender’s engineer for this project.
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