MARAFIQ signs SAR 340.1M contract to convert Yanbu 2 plant to dry gas

Logo of Power and Water Utility Company for Jubail and Yanbu (MARAFIQ)

Power and Water Utility Company for Jubail and Yanbu (MARAFIQ) signed a contract worth SAR 340.14 million with Doosan Enerbility and its branch for the implementation of a project to convert MARAFIQ's Yanbu 2 plant from the use of liquid fuel to dry gas.

In a statement to Tadawul, the company said the project was awarded on Nov. 27 and the contract is expected to be signed on Jan. 1, 2025.

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The three-year contract has no significant financial impact on the company, the statement noted, adding that the related parties include the Ministry of Energy-Liquid Fuel Displacement Program (LFDP).

The company clarified that the project will be funded from the budget allocated to it by the Ministry of Energy as part of the LFDP.

This initiative aligns with the energy sector's goals to support the LFDP objectives. The project aims to reduce emissions from electricity production within the company’s facilities and enhance operational reliability.