GDF Suez wins $1.7B contract to build 2 gas-fired power stations in Oman

GDF Suez wins $1.7B contract in Oman

PARIS — GDF Suez SA has won a $1.7 billion contract from Oman authorities to build and operate two gas-fired power plants in the Gulf sultanate, the French gas and electric utility said Monday.

The two plants will have a combined output of about 1,500 megawatts and the power generated will be sold under a 15-year purchase agreement with the Oman Power and Water Procurement Co.

GDF Suez will own 46 percent of the plants, alongside investors from Japan and the Oman state pension fund.

The French utility has been present in the Gulf region for 15 years and has installed capacity there of about 17,000 megawatts.