Daewoo International Corp., a trading company affiliated with steelmaker POSCO, won an $819 million contract to build a thermoelectric power plant in Uzbekistan, company officials said Wednesday.
The company, in a consortium with Hyundai Engineering & Construction, signed the deal with state-run Uzbekenergo on Tuesday. The three-year project involves the construction of two 450-megawatt steam power generation complex units in the southern Talimarjan area.
|Daewoo International Corp. vice chairman Lee Dong-hee (from left, front row), Uzbekenergo director Basidov and Hyundai Engineering & Construction president Jung Soo-hyun shake hands after signing a deal to build a power plant at a ceremony in Tashkent on Tuesday. (Hyundai E&C)|
The construction will be implemented on a turn-key basis, which means that the Korean consortium is to take charge of all due procedures, starting from engineering, purchasing, building and financing.
“Daewoo International’s overseas network and information database, together with HEC’s construction technology, created a synergy in winning the bid,” said an official of the trading company.
The Uzbek deal will also act as a foothold for Korean companies to advance further in the electricity market of other Central Asian states, the official added.
By Bae Hyun-jung (email@example.com