POSCO unit builds thermal power plant in Vietnam

POSCO Energy Co., a unit of South Korea's top steelmaker POSCO, said Tuesday that it has completed the construction of a thermal power plant in Vietnam.

The coal-powered plant in Quang Ninh, some 200 kilometers north of Hanoi, has a power generation capacity of 1,120 MW.

POSCO Energy said it plans to run the power plant along with U.S.-based energy firm AES Corp. for the next 25 years by investing $1.85 billion.

It is Vietnam's first independent power plant, the company said.

POSCO Energy started work on the project in August 2011, and completed it in April this year. (Yonhap)