POSCO E&C Wins US$350 M. Cement Plant Order in East Timor

POSCO Engineering & Construction (POSCO E&C) unveiled on December 4 it has signed a Letter of Award (LOA) worth a US$350 million order to build a cement plant in northeastern East Timor. 

According to POSCO E&C, the deal was made with Timor-Leste Cement, which is a special purpose company (SPC) owned by the Australia-based housing constructor BCG. The Korean builder plans to complete the plant in 34 months after starting construction.

The groundbreaking date, however, has not been released yet. POSCO E&C will be responsible for the entire project process from planning, engineering, procurement, construction, and commissioning. 

Once completed, the plant will annually produce 1.5 million tons of cement, said POSCO E&C.