Hyundai E&C consortium wins $730 million order to build power plant in Algeria
SEOUL, AJU - A consortium led by Hyundai Engineering and Construction, a major builder in South Korea, has won an order worth 730 million to build a combined cycle power plant in Algeria. Construction will be finished in 60 months.
Hyundai E&C has formed a consortium with Posco International, the trading wing of South Korean steel group Posco, and Hyundai Engineering to clinch the deal from HYENCO, a joint venture created by Algeria's national power company Sonelgaz and A Hyundai E&C-led consortium in 2015, to build a 1,300 megawatt-class power plant in Biskra Province.
The builder said that its consortium would work with HYENCO to carry out four other power plant projects in the future to meet increasing demands for electricity in the North African country, which develops combined-cycle gas turbine plants in multiple locations
The Biskra contract is the third overseas deal grabbed by Hyundai E&C this month. The builder teamed up with a local company to win a 190 billion won ($164 million) order for the construction of the Punggol sports center in Singapore and double orders to build high-rise office buildings in a smart city in Qatar.