Beachhead in Africa
Hyundai Engineering & Construction Co. has successfully completed the expansion construction of Azito Complex Thermal Power Plant in Côte d’Ivoire, a sub-Saharan nation in West Africa, and held the ceremony for its completion on June 30.
The ceremony was attended by Ivory Coast President Alassane Ouattara, Ivorian Prime Minister Daniel Kablan Duncan, and many other government officials in neighboring countries such as Benin, Mali, and Togo, all showing an extreme interest in the technology of Hyundai E&C.
The Azito Complex Thermal Power Plant was a US$250 million (290 billion won) project ordered by Azito Energie, whose major shareholder is the British Globeleq group, a leading developer for independent power providers (IPPs).
The deal was the first achievement of Hyundai E&C after the company tapped into sub-Saharan nations in West Africa. Also, it has a significant meaning since the company has established a beachhead in the region in the future.