US$1.153 Billion Deal
Daelim Industrial Co. is pushing into the Southeast Asian market by winning a contract to build a thermal power plant in Malaysia.
The company said on August 22 that it obtained an order worth 1.3 trillion won (US$1.153 billion) from Tenaga Nasional Berhad (TNB) to build a coal-powered thermal power plant in Manjung, Malaysia.
This project involves the construction of a 1,000-megawatt coal-fired thermal power plant in Manjung, which lies about 288 km north west of Kuala Lumpur. It is scheduled to be completed in October 2017. Daelim will carry out all processes of the project on a lump sum turn-key basis, from designing the plant to purchasing required equipment and constructing the plant itself.
Last year, the Korean builder also won a US$1.2 billion contract to construct the largest coal-powered thermal power plant in Vietnam. Continuous deals make Daelim stand out in the Southeast Asian market.
A Daelim official said, "We are engaged in four power plant projects estimated at US$2 billion in Vietnam and the Philippines," adding, "We are planning to actively expand our business in the region."