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Hyundai Wins US$970 M. Deal to Construct Power Plant in Kuwait
Power Plant Project in Kuwait
Hyundai Wins US$970 M. Deal to Construct Power Plant in Kuwait
  • By matthew
  • December 16, 2013, 07:08
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Hyundai Heavy industries’ earlier-than-expected completion of the Sabiya power plant in Kuwait in 2011 was likely a contributing factor to winning this US$1 billion deal.
Hyundai Heavy industries’ earlier-than-expected completion of the Sabiya power plant in Kuwait in 2011 was likely a contributing factor to winning this US$1 billion deal.

 

Hyundai Heavy Industries (HHI) said on December 15 that it has received an around 1.5 trillion won (US$1.45 billion) order to construct a power plant in Kuwait jointly with a French company Sidem. Hyundai’s portion amounted to around US$970 million. 

Under the deal with the Partnerships Technical Bureau of the Kuwait government, HHI will build a power plant with a generation capacity of 1,500 MW. The plant will be built on a site located along the Persian Gulf, about 100 kilometers south of Kuwait City.

The deal is part of a plan initiated by the Kuwait government to construct power and desalination plants.

Before winning the deal, HHI was chosen as the preferred bidder in March 2011 by participating in the consortium as the EPC participant, which had been led by GDF Suez of France.

The construction will start this month with aiming at completion during the second half of 2016.