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MarketScreener Homepage  >  Equities  >  Nyse  >  General Electric Company    GE

GENERAL ELECTRIC COMPANY

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General Electric : SEC Awards 5 Stars to Waad Al Shamal Power Plant Project for Environment, Health & Safety Standards

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06/23/2020 | 04:07am EDT

Waad Al Shamal becomes one of the Saudi power plants under construction awarded a 5-star rating for EHS performance by SEC

Riyadh, Saudi Arabia; June 23, 2020: Saudi Electricity Company (SEC) has awarded 5 stars to Waad Al Shamal integrated solar and combined cycle power plant project for Environment, Health and Safety (EHS) standards. The project has become one of the power plants under construction in the Kingdom of Saudi Arabia to obtain a 5-star rating for EHS performance from SEC. GE is providing turnkey services, including engineering, procurement and construction (EPC) works, and supplying four GE 7F gas turbines, one steam turbine and four heat recovery steam generators (HRSGs), as well as other equipment for the project. One of the turbines at the site is the first GE gas turbine rolled out locally in the Kingdom from GE Saudi Advanced Turbines (GESAT) - a joint venture (JV) between Dussur and GE.

Fahad H. Al-Sudairi, President and CEO of SEC, said, 'At SEC, we continuously assess progress against strict measures meant to ensure occupational safety and health across all our offices, existing facilities and projects. We are delighted to work with an industry leader such as GE that has demonstrated a clear commitment to upholding strict EHS standards and congratulate them on this 5-star rating.'

SEC has set rigorous EHS protocols for project sites around workplace hygiene and housekeeping, lifting heavy loads, lighting and ventilation, waste management and other areas, with regular audits conducted by the Industrial Security Department. To be granted a 5-star rating, organizations not only have to meet the defined criteria but also have to demonstrate that they are continuously adhering to them. GE has dedicated site leaders, staff training programs and its own internal audits to implement and monitor EHS standards at the Waad Al Shamal project.

Moreover, strict measures have been implemented to enable project staff to continue working safely following the COVID-19 outbreak. These measures include thermal screening of everyone entering the site, daily active random screening of staff at site by medical personnel, daily disinfection and cleaning activities, distribution of mandatory personal protective equipment (PPE) such as gloves and masks, COVID-19 awareness sessions, prevention training and educational materials in different languages, as well as other precautions.

Joseph Anis, President & CEO of GE Gas Power MENA & South Asia, said, 'At GE, the safety and protection of our people, projects, the environment and community at large, is of paramount importance. We are honored by the 5-star award granted by SEC and remain committed to further improving EHS standards at Waad Al Shamal and other GE projects, to set new benchmarks on power plant management - from construction to operations.'

GE won the contract for SEC's Waad Al Shamal project, which also includes 50 megawatts (MW) of solar power, in late 2015. All four GE 7F gas turbines at the plant can now operate in simple cycle configuration. Combined cycle commissioning works are ongoing and once complete, the facility will be able to generate up to 1,390 megawatts of power, the equivalent electricity needed to supply over 500,000 Saudi homes.

GE has supported the development of Saudi Arabia's infrastructure for over 80 years. Today, there are more than 500 gas turbines installed in the Kingdom and GE-built technologies help generate over 50 percent of the country's electricity. The GE Manufacturing and Technology Center (GEMTEC) campus includes a Service and Repairs Center for gas turbines, a Hot & Harsh Research & Development Center, a Monitoring & Diagnostics Center for the remote monitoring of power generation assets, as well as GE Saudi Advanced Turbines (GESAT), a standalone JV between Dussur and GE that furthers industrial localization efforts in the Kingdom and is equipped to manufacture heavy duty gas turbines and components. GEMTEC and GESAT are playing a strong role in helping to achieve the goals outlined under Saudi Vision 2030 by nurturing local talent and suppliers, further diversifying Saudi Arabia's economic base and promoting exports.

-ends-

Join the conversation at our GE Hewar blog: http://middleeast.geblogs.com/

Notes to Editor

About SEC:

The Saudi Electricity Company (SEC) is dedicated to strengthening electrical services throughout KSA and beyond, in line with the rapid pace of economic development associated with the Kingdom's Vision 2030. As such, the company has focused its massive resources on the implementation of electrical projects that ensure stability and performance of the Kingdom's electricity system. SEC has successfully translated its development and expansion goals into reality by investing financial resources into major electrical projects, which resulted in SEC becoming the largest utility company in the Middle East and North Africa.

About GE:

GE (NYSE:GE) drives the world forward by tackling its biggest challenges. By combining world-class engineering with software and analytics, GE helps the world work more efficiently, reliably, and safely. For more than 125 years, GE has invented the future of industry, and today it leads new paradigms in additive manufacturing, materials science, and data analytics. GE people are global, diverse and dedicated, operating with the highest integrity and passion to fulfill GE's mission and deliver for our customers. www.ge.com

About GE Gas Power:

GE Gas Power is a world leader in natural gas power technology, services, and solutions. Through relentless innovation and continuous partnership with our customers, we are providing more advanced, cleaner and efficient power that people depend on today and building the energy technologies of the future. With the world's largest installed base of gas turbines and more than 200 million operating hours across GE's installed fleet, we offer advanced technology and a level of experience that's unmatched in the industry to build, operate, and maintain leading gas power plants. For more information, please visit www.ge.com/power/gas and follow GE's gas power businesses on Twitter and LinkedIn.

About Dussur:

Dussur is a strategic industrial investor established by a Royal Decree as a joint venture of the Saudi Arabian Public Investment Fund (PIF) (50%), Saudi Aramco (25%) and Saudi Arabia Basic Industries Corporation (SABIC) (25%). In line with Saudi Vision 2030 objectives, Dussur's designated role is to advance the industrialization and economic diversification of the kingdom through the creation of joint ventures with global industry leaders that enable the private sector, facilitate knowledge and technology transfer, create sustainable jobs, and contribute to the nation's GDP.

For more information, please contact:

Abeer Masood

Senior Communications Manager

GE Gas Power MENA & South Asia

abeer.masood@ge.com

Kelly Home | Nivine William

ASDA'A BCW

+9714 4507 600

kelly.home@bcw-global.com

nivine.william@bcw-global.com

business unit

Disclaimer

GE - General Electric Company published this content on 23 June 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 23 June 2020 08:06:03 UTC

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Financials (USD)
Sales 2020 78 761 M - -
Net income 2020 4 458 M - -
Net Debt 2020 28 992 M - -
P/E ratio 2020 13,1x
Yield 2020 0,63%
Capitalization 56 021 M 56 021 M -
EV / Sales 2020 1,08x
EV / Sales 2021 0,96x
Nbr of Employees 205 000
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