POSCO E&C completes power plant construction in Panama.

SEOUL, Oct. 20 (Yonhap) -- POSCO Engineering & Construction Co., the construction arm of South Korea's leading steelmaker, POSCO, said Sunday that it has completed the construction of a large-scale power plant in Panama.

POSCO E&C held a ceremony on Friday (local time) to mark the completion of the combined cycle power plant and an LNG terminal at Colon Province, around 60 kilometers north of the capital, Panama City, officials said.

The new plant, with generating capacity of 380 megawatts, will account for about 23 percent of Panama's total electricity production, enough for 300,000 households in the area, officials said.

The project finished in 27 months, the fastest among similar plant constructions in Central and South America, POSCO E&C said.

POSCO E&C was the first South Korean construction company to make inroads into Latin America's energy plant market with a coal-fired power plant deal in Chile in 2006.

khj@yna.co.kr
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