GE unit wins nearly $1 bln Algerian power plant bid

General Electric Co unit GE Energy said on Tuesday that it has a won a contract to provide turbine technology for an Algerian power plant worth nearly $1 billion.

• GE said in a statement that Algerian power company Shariket Karhaba Koudiet Eddraouch Spa has awarded the contract to build the power plant to GE in a consortium with Spanish engineering firm Iberdrola Ingenieria Y Construccion.
• GE also said it is in the process of signing a contractual services agreement to provide maintenance and parts for the plant over a period of 20 years.