MW – Official POSCO Group Newsroom

POSCO DAEWOO Completes Uzbekistan’s Biggest Combined Cycle Power Plant

posconews — Tue, 12 Sep 2017 16:22:27 +0000

On August 29, the POSCO DAEWOO-Hyundai E&C consortium completed a 929 megawatt (MW) combined cycle power plant in Talimarjan, Kashkadarya, approximately 440km southwest of Tashkent, the capital of Uzbekistan.

Kashkadarya Governor Ruziev Zafar Sharopovich, Uzbek government officials, POSCO DAEWOO Managing Director Hyun-soo Kim, and representatives from Hyundai E&C and the Asian Development Bank were among the attendees at the completion ceremony.

The project dates back to March 2013, when Uzbekistan’s state power authorities and the POSCO DAEWOO-Hyundai E&C consortium signed a construction agreement for the 929 MW combined cycle power plant. The USD 862 million project was financed by the Asian Development Bank.

This is the biggest single-unit power plant in Uzbekistan, and will account for 6.6 percent of all the power produced in the country. The plant’s electric power will be supplied to the southern parts of Uzbekistan.

As for the construction process itself, the consortium followed a turn-key process, meaning all the operations including engineering, purchasing and construction were carried out simultaneously.

“POSCO DAEWOO’s global network, project operation and management skills paired with Hyundai E&C’s construction skills and technology created the synergy that led to the success of this project,” said an official of the consortium. “POSCO DAEWOO plans to use this opportunity to expand its IPP projects beyond Central Asia to Latin America and Africa.”

POSCO DAEWOO is currently operating the first 30MW private capital power plant in Papua New Guinea and is working on building a second plant. Also in the works are new private capital power plant projects in Myanmar, Indonesia and Latin America. POSCO DAEWOO plans to carry out projects related to gas combined cycle power plants and solar power all over the world, and expand the power plant business to the size of 2GW in generation capacity by 2020.

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POSCO Engineering’s Hydropower Plant in Indonesia Begins Operations

posconews — Mon, 16 May 2016 10:52:16 +0000

On April 30, Wampu hydroelectric power plant in Indonesia, constructed by POSCO Engineering, entered into commercial operation.

The Wampu plant is a 45 MW private hydropower plant which cost $170 million. The project encountered a slight setback when the Mount Sinabung volcano erupted in North Sumatra, but has now successfully achieved commercial operations, about four years after the construction began in July 2012.

Achieving synergies between a state-owned venture and a private enterprise

With 46 percent of the plant owned by Korea Midland Power (KOMIPO) and 20 percent by POSCO Engineering, Wampu plant is the first privately-financed, overseas hydropower project that a Korean power company has ever participated in. The project is expected to trigger momentum for more domestic state-owned and private companies to jointly enter overseas markets in the future.

This project is considered a successful case study of a Korean consortium: KOMIPO led the entire process of the project, including construction management, while POSCO Engineering carried out the design and construction, and the Export-Import Bank of Korea raised funding.

In addition, POSCO Engineering and KOMIPO are jointly working on the 55.4 MW Semangka hydropower plant project, which is scheduled to be completed in the latter half of 2017, and are making efforts to develop additional joint projects.

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POSCO Engineering Signs EPC Agreement for the Construction of Hydroelectric Plant in Indonesia

posconews — Wed, 02 Dec 2015 14:34:59 +0000

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.

Bird’s-eye view of Hasang Hydroelectric Power Plant

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.”

Location of Hasang Hydroelectric Power Plant

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