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Biz News Korea(Eng)
Hyundai E&C and Posco Daewoo to build power plant and power transmission line in Uzbek
- Collected
- 2017.11.23
- Distributed
- 2017.11.24
- Source
- Go Direct
The consortium of Hyundai E&C and Posco Daewoo announced Thursday that it signed an agreement in Seoul for the project to build a 450-megawatt power plant and a 220-550kV transmission line with a length of 1,230 km with Uzbekistan’s state-owned power company Uzbekenergo and the State Committee of the Republic of Uzbekistan on Investments.
The project was signed during the state visit of Uzbek President Shavkat Mirziyoyev to Korea. Mirziyoyev arrived Seoul on Wednesday on a four-day state visit.
At 1:35 p.m. on Thursday, shares of Hyundai E&C rose 2.48 percent to 35,100 won, and those of Posco Daewoo gained 1.67 percent to 18,250 won in Seoul trading.
The combined-cycle power plant to be built in Navoi as part of the Uzbek government’s state project to build large-scale combined-cycle plants will supply electricity to the central region of the country.
“The agreement is expected to give us the upper hand in the upcoming races for energy projects by the Uzbek government,” said Hyundai E&C.
The two companies in August completed a project worth $870 million to construct a combined-cycle power plant in Talimarjan which they had won from Uzbekenergo as an EPC (engineering, procurement and construction) deal in March 2013.
Separately, Posco Daewoo inked a deal to build a 2-gigawatt solar power plant and a facility supplying solar modules with Uzbek’s investment committee and its state-run energy firm National Energy-Saving Company.
By Lee Ji-yong and Choi Mira
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