POSCO Engineering successfully completed signing of an Engineering Procurement Construction (EPC) agreement on the construction of the third hydroelectric power plant in Indonesia solidifying its position as a leading EPC company in hydroelectric power plant construction area. A representative of POSCO Engineering said, “POSCO Engineering signed an EPC agreement with Indonesia’s Binsar Natorang Energy (BNE) December 2 for the construction of Hasang Hydroelectric Power Plant in Indonesia, which is worth 130 billion KRW.” BNE is a foreign corporation which was established in Indonesia by LG International Corp. for the operation and construction of power plants in cooperation with local companies.”
The Hasang Hydroelectric Power Plant project plans to construct a 42-megawatt conduit type hydroelectric power plant in Toba Samosir, located in the northern area of Sumatra Island in Indonesia and POSCO Engineering will conduct the project using an EPC turnkey method, from the blueprints and purchasing to construction. Scheduled to be completed in January 2019, it will provide a maximum of 242 GW of power to Sumatra Island annually.
In 2011, POSCO Engineering obtained an order for the Wampu Hydroelectric Power Plant, entering Indonesia’s hydroelectric power plant industry as the first Korean construction company that offered EPC turnkey solutions. Winning contracts for the Semangka Hydroelectric Power Plant (55.4 MW) and the Hasang Hydroelectric Power Plant (42 MW) strengthened its position in the Indonesian hydroelectric power plant construction market. Park Jung-hwan, CEO of POSCO Engineering said, “We will successfully complete this project with sufficient technologies and previous experiences gained from the Wampu and Semangka projects. Based on our hydroelectric power plant construction know-how, we seek to enter neighboring countries which have similar geographical characteristics to Indonesia.”
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