POSCO E&C has started construction on a 380MW combined cycle power (CCPP) plant in Colon, Panama.


The project will include the construction of a liquefied natural gas (LNG) CCPP plant, along with an 180,000cb m LNG storage tank to supply fuel at Colon — located near the Atlantic entrance to the Panama Canal — entailing an investment of $650M.

The facility, set to be the largest of its kind in Panama, will generate enough electricity to power about 300,000 homes.

Upon completion, the power plant will provide a stable supply of electricity to the industrial complex near Panama Canal and the Colon area.

POSCO E&C CEO Han Chan-kun said: "The project is the result of efforts to establish trust with the ordering parties in Latin America over the past decade.

"It will be a great chance for us to showcase the high-quality construction technology of E&C across the world."

The power plant will be completed in July 2018 and the LNG tank in May 2019.