Tuesday, October 23, 2018
Hyundai E&C, POSCO Daewoo Jointly Win Combined-cycle Power Plant Construction Deal
$1.8 Billion Deal in Uzbekistan
Hyundai E&C, POSCO Daewoo Jointly Win Combined-cycle Power Plant Construction Deal
  • By Jung Min-hee
  • November 24, 2017, 02:45
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Lee Hae-joo, director of Hyundai E&C (second from left) signs an agreement on power plant project with Azim Ahmedkhadzhayev (center), chairman of the State Committee for Investments at Hotel Shilla in Seoul on Nov. 22. (photo courtesy: Hyundai E&C)
Lee Hae-joo, director of Hyundai E&C (second from left) signs an agreement on power plant project with Azim Ahmedkhadzhayev (center), chairman of the State Committee for Investments at Hotel Shilla in Seoul on Nov. 22. (photo courtesy: Hyundai E&C)

 

Hyundai Engineering & Construction Co. and POSCO Daewoo Corp. will jointly conduct a project worth US$1.8 billion (1.9 trillion won) to build a combined-cycle power plant and high-voltage power transmission and transformation line in Uzbekistan.

The consortium of Hyundai E&C and POSCO Daewoo announced on November 23 that it has signed an agreement on November 22 at The Hotel Shilla in Seoul, for the project to build a 450-megawatt power plant and a high-voltage power transmission and transformation line with Uzbekistan’s state-owned power company UzbekEnergo and the State Committee of the Republic of Uzbekistan on Investments.

The signing ceremony was attended by executives and employees from Hyundai E&C and POSCO Daewoo and Uzbekistan’s government officials such as Azim Ahmedkhadzhayev, chairman of the State Committee for Investments, and Shukhrat Sheraliev, deputy chairman of UzbekEnergo.

The 450-megawatt combined-cycle power plant to be built in Navoiy, the central city of the chemical industry in Uzbekistan, is part of the Uzbek government’s state project to build large-scale combined-cycle plants.

The consortium of Hyundai E&C and POSCO Daewoo will also cooperate to construct a 220-550kV transmission and transformation line with a length of 1,230 km in the future. An official from Hyundai E&C said, “We will make the best use of our excellent prowess in construction and the Uzbek government’s experience in large-scale power projects. We expect that the latest deal will become a signal of entering the power market of countries suffering from an electric power shortage, such as Africa and Latin America as well as Central Asia, in the future.”