Hyundai Engineering & Construction (Hyundai E&C) announced on Jan. 15 that a Hyundai E&C consortium (Hyundai E&C, Hyundai Engineering and POSCO International) has won a combined cycle power plant project in Algeria.
Including this order, Hyundai E&C won US$1.8 billion worth of projects in January alone.
The Hyundai E&C consortium signed a contract with Hyenco, a subsidiary of the Algerian Power Authority, on Jan. 14 (local time) to build Umashe 3 Combined Cycle Power Plant for US$730 million.
The project involves building a combined thermal power plant with a capacity of about 1,300 MW in Umashe, Biskra 340 km southeast of Algiers, the capital of the North African country. The project will run for 60 months and the power plant will have an annual average power generation capacity of 968 million MWh.
Hyenco is a joint venture established in November 2015 by the Hyundai E&C consortium and the Algerian Power Authority. The Hyundai E&C consortium holds a 49 percent stake in it while the Algerian Power Authority the remaining 51 percent stake. Hyenco plans to build a total of five similar combined cycle power plants with the Hyundai E&C consortium.