Saudi ACWA secures $2 bln Rabigh power financing

ABU DHABI, March 30 (Reuters) - Saudi Arabia's ACWA Power International has secured $2.0 billion financing for its Rabigh power plant projects, its chief executive told Reuters on Monday.

"We are working to a financial close before the end of May this year," Paddy Padmanathan said.

Acwa has awarded a $1.65 billion engineering, procurement and construction contract for the Rabigh plant to a Chinese consortium of Dongfang Electric (600875.SS) (1072.HK) and Sepco-III, Padmanathan said.

Acwa is aiming to expand overseas this year and is eyeing projects in Abu Dhabi, Oman, Bahrain and Africa, he added. (Reporting by Stanley Carvalho, writing by Sam Cage)