Economy

Turkish Tekfen, Saudi Aramco sign $590M agreement

Company to build pipelines for giant energy plant in eastern Saudi Arabia

30.07.2018
Turkish Tekfen, Saudi Aramco sign $590M agreement

By Gokhan Ergocun

ANKARA

Turkish construction company Tekfen and Saudi oil company Aramco have signed a construction agreement, Tekfen announced on Monday.

Under the $590 million deal, Tekfen will build satellite gas compression plants pipelines for the Haradh Gas Increment Program.

The Haradh Gas Plant, established in 2003, is a giant energy project located in eastern Saudi Arabia. With the expansion project, its total daily gas production is expected to rise by more than one billion standard cubic feet.

"The duration of the project will be 33 months," the company said on Turkey's Public Disclosure Platform.

Turkey's Tekfen Construction, established in 1956, is active in several construction areas, including heavy civil work, refineries, petrochemical plants, pipelines, marine structures, and electrical work in Turkey, the Middle East, North Africa, Asia, and Europe.

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