South Korea-based Daewoo Engineering and Construction Co (Daewoo E&C) has secured a QAR1bn ($274.6M) financial package from Qatar Islamic Bank (QIB) to fund its ongoing projects in Qatar, including the construction and upgrading of the E-Ring Road.
South Korea-based Hyundai Engineering & Construction (Hyundai E&C) has won a $735M contract from Saudi Aramco to construct a gas processing plant in Saudi Arabia.
POSCO E&C has completed construction on a waste-to-power plant in Krakow, Poland.The plant, delivered for Krakow Communal Holding, was constructed in three and a half years.The $250M facility — the largest daily waste incinerating facility in Poland — is capable of processing 220,000t of household waste annually in an eco-friendly way.
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.
A joint venture between Japan's Marubeni and South Korea's Posco Energy has won an $800m contract to expand the Morupule B power plant in Botswana.The project would expand the coal-fired plant’s capacity by an extra 300MW, from its existing capacity of 600MW. The power generated would be sold to the Botswana Power Corporation under a 30-year power purchase deal at a cost of 812.56 pula per megawatt hour.Construction work on the new plant is due to start in late 2016, with the first power generated added to the national grid by May 2020. The project is expected to increase national power generation capacity to over 1,000MW from the existing capacity of 600MW.
South Korean firm POSCO E&C has secured a $650m EPC turn-key contract from Gas Natural Atlantico and Costa Norte LNG Terminal for the Colon combined cycle power plant and LNG terminal project in Panama.