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Hyundai E&C wins US$250 mln power plant order

All Headlines 11:20 January 11, 2012

SEOUL, Jan. 11 (Yonhap) -- Hyundai Engineering & Construction Co., a South Korean industrial plant builder, said Wednesday it has clinched a US$250 million deal to build a power plant in Cote d'Ivoire.

Under the deal with Azito Energie S.A., Hyundai will build a 139 megawatt electricity power generation unit at an existing plant in the West African country. Construction is expected to be completed in 27 months.

The Azito Power Plant southeast of Abidjan, Cote d'Ivoire's capital, currently has two 144 megawatt units. Adding one more power unit will transform Azito into a combined cycle power plant. The plant is already the most powerful and modern in the region.

Hyundai, which is an affiliate of Hyundai Motor Group, the world's fifth-largest automaker, said winning the Cote d'Ivoire deal gives it a firm foothold in the West African energy market that can help the company make further inroads into the region.

In the past, the builder generally operated in the Middle East and North Africa, but has started moving into other developing regions such as Central Asia, Latin America and Africa.

yonngong@yna.co.kr
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