SPX Corporation announced that its Thermal Equipment and Services segment has been awarded a contract valued at approximately $41 million to design, manufacture and supervise the construction and commissioning of two new air cooled condenser dry cooling systems for the Riyadh PP11 power plant to be constructed in Saudi Arabia.

The formal agreement was signed by SPX and Hyundai Heavy Industries Korea, which is spearheading the design, engineering, construction, installation, testing and commissioning for the Riyadh PP11 project. Riyadh PP11 is being developed by GDF Suez-France and Haljomaih Holding Company-Saudi Arabia, which will also own and operate the combined cycle power plant along with Saudi Electricity Company-Saudi Arabia and Sojitz Corporation-Japan.

"The Middle East continues to be an important developing region for SPX due to increasing demand for energy and continued power infrastructure expansion," said SPX Chairman, President and Chief Executive Officer Christopher J. Kearney. "To date, SPX has helped establish new dry cooled power stations in Bahrain, Qatar, Jordan and now, Saudi Arabia. The Riyadh PP11 project also marks SPX's largest contract to date in Saudi Arabia and we look forward to working with Hyundai Heavy Industries toward the power plant's successful completion”.

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