Daewoo E&C Signs Agreement to Build Iran's Sirjan Power Plant

Daewoo E&C Signs Agreement to Build Iran's Sirjan Power Plant

December 16, 2016 17:52 l December 16

Daewoo Engineering & Construction held a memorandum signing ceremony for a combined-cycle thermal power plant to be built in Sirjan, Iran, with the country's Gohar Energy at its downtown Seoul headquarters office. The three-way contract was also attended by Korea Western Power Co.

The latest deal calls for building a 500-megawatt power plant in Sirjan, Kerman, in the southeast of the Islamic Republic commissioned by the nation's largest investment company Omid. The total price tag for the deal is estimated at US$500 million. The plant's capacity is subject to change due to subsequent negotiations.

Gohar Energy with which Daewoo signed the agreement is recently established by Omid for the Sirjan plant construction project. In partnership with Korea Western Power, Daewoo will take part in the EPC (engineering, procurement, and construction) project as an equity partner.

Daewoo Construction is actively engaged in winning orders in the Iranian market in the areas of public works, oil refining plants, and power plants. In addition to independent power production, it plans to move into other projects such as rehabilitation of old power plants.

hana@hankyung.com

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