What is the total value and scope of KEPCO's newly won Jafurah Phase 2 project in Saudi Arabia?

KEPCO has won a contract to build and operate the second phase of the Jafurah cogeneration power plant in Saudi Arabia, with expected total revenue of approximately 2.1 trillion won ($1.4 billion). The plant will have a power generation capacity of 331 megawatts and produce about 465 metric tons of steam per hour; it is scheduled for completion by June 2029 and will supply power and steam under a 17-year agreement with Saudi Aramco.

How does the Jafurah Phase 2 project relate to KEPCO's earlier involvement in the same facility?

The Phase 2 project is an expansion of the 317-MW first phase of the Jafurah cogeneration plant, which KEPCO won through an international tender in 2022 and expects to complete by the end of June — indicating a sequential, multi-phase engagement where Phase 1 precedes and complements Phase 2 in scale and function.

South Korea's KEPCO Wins Saudi Jafurah Power Project Worth $1.4 Billion

Jun 4, 2026

KEPCO secured a $1.4 billion contract to construct and operate a cogeneration power plant at Saudi Arabia's Jafurah project. The facility will deliver 331 MW of power and 465 metric tons of steam hourly starting June 2029.

reuters

2026-06-04

South Korea's KEPCO Wins Saudi Jafurah Power Project Worth $1.4 Billion

South Korea's KEPCO Wins Saudi Jafurah Power Project Worth $1.4 Billion

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