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Biz News Korea(Eng)
GS E&C wins $565 mn order to build coal-fueled generators in Botswana
- Collected
- 2016.12.16
- Distributed
- 2016.12.19
- Source
- Go Direct
![POSCO Energy Managing Director Kim Sung-byung, Palapye’s Director Maruo and head of GS E&C’s power division Lim Ki-mun (from the left) are taking a picture after ECP contract signing ceremony. [Photo: GS E&C]](http://file.mk.co.kr/meet/neds/2016/12/image_readtop_2016_870882_14818648742718255.jpg)
POSCO Energy Managing Director Kim Sung-byung, Palapye’s Director Maruo and head of GS E&C’s power division Lim Ki-mun (from the left) are taking a picture after ECP contract signing ceremony. [Photo: GS E&C]
Under the engineering procurement and construction agreement with Botswana-based Palapye Power Generation, the company will build two 150 megawatt power generators based on circulating fluidized-bed combustion (CFBC) technology. The construction of Morupule B2 plant to be located 280 kilometers north of Botswanan capital Gaborone will become complete in 2020.
This project will help stabilize power supply in Botswana as the country imports resources from its neighbor South Africa to make power and allow the Korean company a foothold in southern African region.
Botswana, sharing the northern border of South Africa, is the fourth wealthiest African country in terms of purchasing power parity (PPP) and gross national income (GNI). The economy has grown 6 to 8 percent annually.
GS E&C seeks to diversify and expand its overseas market to South East Asia, Africa and South America amid sluggish domestic market due to low oil prices and shrinking orders in crude oil markets of the Middle East, head of GS E&C’s power division Lim Ki-mun said.
At 2:00 p.m., shares of GS E&C fell 1.17 percent or 300 won to 25,450 won in Seoul trading Friday.
By Kim In-oh
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