South Korea's Hanwha Engineering & Construction said Wednesday it had signed a $1.05 billion deal to build a power station and desalination plant in Saudi Arabia.
The builder said it would complete the plant by 2014 under the deal with Marafiq, a Saudi Arabian power and water utility company.
The plant will be built in the Yanbu industrial complex north of Jeddah, it said.
In 2009, the builder clinched a $750 million order from Marafiq to build a power plant in the complex by 2012. Hanwha said it has completed 60 percent of the plant.