Power and Water Utility Company for Jubail and Yanbu (Marafiq) has signed a contract worth 340.14 million Saudi riyals ($90.53 million) with South Korea-based Doosan Enerbility and its branch to implement a project to convert its Yanbu 2 plant from the use of liquid fuel to dry gas.

The contract, awarded on November  27, is expected to be signed on January 1, 2025.

The project will be funded from the budget allocated to the company by the Ministry of Energy as part of the liquid fuel displacement programme.

The three-year contract will not financially impact Marafiq and its related parties.

The project will contribute to reducing emissions from electricity production within the company's facilities and increasing the reliability of its operations.

(Editing by Anoop Menon) (anoop.menon@lseg.com)

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