K-Electric Awards Contracts for 900MW BQPS-III Siemens AG and Harbin Electric
October 22, 2019
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K-Electric has awarded the contracts to global technology powerhouse Siemens AG and Chinese construction contractor Harbin Electric for a 900MW Combined Cycle Power Plant and associated grids at Bin Qasim. The contract was signed by Moonis Alvi, CEO, KE, Dr. Karamat Fakhari Executive Vice President, Siemens and Guo Yu, Chairman, Harbin Electric International Company Limited. Although the project timeline has been affected due to delay in finalization of KE's multi-year tariff, the power utility is determined to execute it on a fast track and additional power to be made available by summer 2021. With an investment of USD 650 Million, the project will be built at KE's Bin Qasim Power Complex and includes upgrades to associated transmission infrastructure. It will be dual-fired with RLNG (Re-gasified Liquid Natural Gas) as the primary fuel and represents one of the largest private sector investments of its kind in the country's power sector. In line with its vision of improving KE's generation fleet efficiency, the 900MW BQPS-III is one of several planned projects to replace older plants with newer and more efficient units.
Siemens AG is one of the world's leading manufacturers of electronic and electro-technical equipments. Net sales (including intragroup) break down by family of products as follows:
- digital industrial equipment (28.2%): automated production, assembly, logistics and monitoring systems, etc.;
- medical equipment (27.8%): medical imaging systems, laboratory diagnostics and hearing aid systems, etc.;
- smart building and infrastructure solutions (25.6%): energy transition solutions, HVAC products (heating, ventilation and air conditioning systems), building security systems (fire detection and protection systems, access control, video surveillance and intrusion detection systems, etc.), building management systems, etc.;
- mobility solutions and systems (13.5%): rail vehicles, rail automation systems, rail electrification systems, digital and cloud-based solutions, etc.
The remaining net sales (4.9%) are primarily from financial activities (leasing, equipment and project financing, financial consulting services, etc.).
Net sales are distributed geographically as follows: Germany (16.3%), Europe/CIS/Africa/Middle East (30.8%), the United States (23.9%), America (5.2%), Asia and Australia (23.8%).