Monday, June 23, 2014

POSCO Energy Sets Foot in Mongolian Power Plant Business

SEOUL, KOREA - POSCO Energy has won the license to build and run a coal-fired combined cycle thermal power plant, or CHP-5, in Mongolia. The company said on June 22 that it held a signing ceremony on the 20th in Ulan Bator, with dignitaries including Mongolian Minister of Economic Development N. Batbayar, Minister of Energy M. Sonompil, POSCO Energy senior executive Shin Chang-dong, GDF Suez Asia-Pacific unit head Jan Flachet, as well as Japan's Sojitz Corp. executive and Mongolia's Newcom president Unenbat in attendance.

The project calls for building a 450-megawatt thermal power plant in the outskirts of the Mongolian capital. POSCO Energy will be a member of a consortium consisting of French, Japanese, Mongolian, and Korean companies. The build-operate-transfer (BOT) project will commence next year and transfer its ownership free-of-charge to the Mongolian government after 25 years of operation. POSCO Energy owns a 30-percent stake in the consortium.

Hwang Eun-yeon, POSCO Energy president, said, "After breaking the ground for the 1,200-megawatt Mong Duong II coal-fueled power plant project in 2012 and completing the 200-megawatt blast furnace gas power plant in Indonesia early this year, we set the foundation of leapfrogging into the world's major power plant builder with the Mongolian project this time."

No comments:

Post a Comment