GE (NYSE:GE) Lands $200 Million Saudi Deal
Modern Energy Roundup - March 27, 2012
- GE (NYSE:GE) has announced that it landed a $200 million supply contract with Saudi Arabia. The deal has GE supplying steam turbine technology, power generation services and distributed control systems for Saudi Electricity Company. Saudi Arabia is looking to add an average of 4 gigawatts of power each year with the goal of doubling grid capacity by 2020. For those who want exposure to energy, but don't want to go “all-in” on a pure play, GE is a great way to do it. It's a solid long-term investment with a nice dividend.
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