Shaw Group awarded services contract for power plants in Saudi Arabia

The Shaw Group Inc. (NYSE: SHAW) was awarded a new contract to implement a fleetwide services program for Saudi Electricity Co.’s oil and gas-fired power plants throughout the Kingdom of Saudi Arabia.

In April 2010, Shaw was awarded a multi-phase study to define and recommend operational improvements for Saudi Electricity Co.’s fleet of power plants. Under the new contract, Shaw will implement a comprehensive asset management and performance diagnostic program that will address most aspects of 37 operating power plants with a concentration on safety, maintenance, staffing, benchmarking and corporate environmental programs.

Shaw expects to continue expanding its role assisting Saudi Arabia in developing oil, gas and nuclear power to support the growing power generation needs. Under a separate previously announced teaming agreement, Shaw, Toshiba and Exelon (NYSE: EXC) are pursuing opportunities to provide a full complement of services to design, engineer, construct and operate new nuclear power plants in Saudi Arabia. The kingdom plans to invest approximately $112 billion during the next 20 years to build 16 nuclear power units to offset rising domestic energy demand.

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