MOU with China State Construction Engineering Corp.
SK ecoplant announced on Jan. 5 that it signed an MOU with China State Construction Engineering Corp. (CSCEC) on Jan. 4 for cooperation in global renewable energy.
The gist of this agreement is that the two companies will actively cooperate in the joint development of renewable energy projects overseas such as Africa and Asia, and in mainland China in order to preempt the global renewable energy market.
The two companies will accelerate the promotion of such projects by maximizing synergies based on their capabilities and focusing on developing renewable energy projects centered on solar power, wind power, and green hydrogen.
The two companies won the 139 km-long Ghweifat-Ruwais section of a second-phase rail network construction project ordered by the UAE’s Etihad Rail by forming a consortium in 2019. The section is now under construction and is slated to be completed in the middle of January. The total construction budget is US$420 million and SK ecoplant owns a 42.5 percent stake in the project.
“We will expedite our preoccupation of the global renewable energy market through strategic cooperation with CSCEC, the world’s No. 1 construction company,” said Park Kyung-il, president of SK ecoplant.