SEOUL, South Korea, April 3, 2013 /PRNewswire/ -- POSCO Engineering and Construction (Vice Chairman: Jeong Dong-hwa) announced on April 2nd that the company has landed a deal to construct a hydroelectric power plant with a capacity of 65 MW along the River Nam Lik in Laos.
The company's first project of its kind, that the deal got the go-ahead at all was thanks to POSCO E&C's high brand awareness and its reputation for reliability built up in international construction markets.
Having entered into a joint venture (Note 1) with, among others, PTTI, a state-run energy corporation of Thailand, HEC, a generation equipment supplier, and ELD, the utility authority of Laos, POSCO E&C will be responsible for the EPC (Note 2) of this project.
The Nam Lik 1 hydroelectric power plant will be completed in 39 months after commencement, costing US$123 million. Implemented on a BOT (Note 3) basis, it will be donated to the Laos government after 27 years of private operation. All electricity generated by the plant, which is located 90 kilometers north of the capital city Vientiane, will be used within the country.
POSCO predicts that the plant, once up and running, will help the country ease its chronic power capacity problems.
Meanwhile, the company expects that this project will give it the momentum to win more deals across the region, including Vietnam, Thailand and Cambodia.
Notes:
Media Contact:
Dong-Jun Chun
+82-32-748-2755
djchun@poscoenc.com
