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THE INVESTOR]
Korea Electric Power Corp. announced on Oct. 11 that South African Department of Energy has selected it as preferred bidder to build and operate a thermal power plant.
The state enterprise has formed a consortium with Japan’s Marubeni for the project that will build a 630 megawatt coal heat power generation plant in Thabametsi site, in Limpopo province, 370 kilometer northwest of Johannesburg.
Both companies own 24.5 percent stake in the US$2.14 billion project and KEPCO is expected to invest US$130 million. When the power plant is completed and starts commercial operations in Aug. 2021, it will sell the entire electricity to South African state-owned electricity company Eskom for 30 years, during which KEPCO expects a revenue of US$35.7 billion.
KEPCO will sign an engineering, procurement and construction agreement with Doosan Heavy Industries and Construction, so that the civil partner will provide major equipment including boilers and turbines.
By Hwang You-mee (
glamazon@heraldcorp.com)
