With eyes set firmly on becoming a multi-national company by 2017, the state-owned National Thermal Power Corporation is planning to foray into the Middle East market with two projects in Saudi Arabia and Oman.

The power giant is in the race for establishing an integrated power project and desalination plant near Jeddah, a top company official told PTI in New Delhi.

C P Jain, chairman and managing director, NTPC, said the company had put in an initial bid for Shouiba integrated power and desalination project, 10 km from Jeddah.

Jain said it would house a 700 MW oil-fired power project alongside a 170 million gallons per day de-salination plant.

NTPC has tied up with a consortium comprising Black and Veich to jointly bid for operations and maintenance contract for the project, he added.

However, no details were available as to the cost of the project with officials maintaining it was at a preliminary stage and estimates were being drawn up.

The corporation also plans to set up a similar project in Oman in joint venture with another state-owned entity, Bharat Heavy Electricals Ltd.

Sohar project, estimated to cost $1 billion, would comprise a 450 MW power plant and 60 MGD desalination plant.