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KHOBAR, Saudi Arabia, May 7 (Reuters) - Saudi Arabia's Saline Water Conversion Corp (SWCC) signed a deal with China's Sepco III Electric Power Construction Corp on Sunday to finish building the third phase of the Yanbu water and power project, the Saudi company said.
The power plant, being built on the Red Sea coast, will cost 5.16 billion riyals ($1.37 billion) and have a power generation capacity of 2,500 MW in addition to producing 550,000 cubic meters of water a day to supply the Muslim holy city of Medina.
General Electric will manufacture the plant's main equipment, an SWCC statement said.
First desalinated water production will come onstream in a year, ramping up every three months to full capacity in 22 months, the statement said. It did not give a time-frame for the completion of the power generation units.
Samsung Engineering Co Ltd, which was part of a consortium that won the contract to build the project said in January its order from SWCC to build the Yanbu plant had been terminated.
SWCC said the project was 60 percent complete in terms of construction work. (Reporting by Reem Shamseddine; editing by Sami Aboudi and Ros Russell)