1 Min Read
SEOUL (Reuters) - A South Korean consortium has won a $1.06 billion deal to build a combined cycle power plant in Algeria, consortium member Daewoo International (047050.KS) said in a statement on Sunday.
Under the turnkey contract with the state-run Algerian Society of Electricity Production, the consortium consisting of Daewoo International, Hyundai Engineering HYENG.UL and Hyundai Engineering & Construction (000720.KS) will construct the 1,200-megawatt power plant in Algeria's northeastern town of Ain Arnat, the Daewoo statement said.
The power station will rise over a period of 39 months, it added.
South Korean builders are competing with firms from China and Brazil for construction contracts in fast-growing Africa.
On Monday, Daewoo International announced it had signed a $1.3 billion deal with the Kenyan Electricity Generating Company to build a 600-megawatt, coal-fired power plant.
Reporting by Sung-won Shim, Editing by Sanjeev Miglani