Thursday, September 4th, 2014
SEOUL, KOREA - Hyundai Engineering said on September 2 that it won an EPC (engineering, purchasing, and construction) project worth US$730 million to build coal-fired thermal power plants in Malaysia. The project was commissioned by Jimah East Power, a special-purpose company owned jointly by 1Malaysia Development Berhad and Japan's Mitsui.
The project calls for building two 1,000-megawatt power plants in Port Dixon, 60 kilometers south of Kuala Lumpur. The length of the project is 55 months after commencing on the construction. Hyundai Engineering will take a 90-percent stake in the project while the remaining 10 percent going to Hyundai Engineering & Construction ($70 million).
Including the coal-fueled thermal power plant deal won in the Philippines in June this year, Hyundai Engineering is implementing several power generation plant projects in Asia such as the Mitra Energi Batam combined cycle power plant and the Rajamandala hydropower project in Indonesia and the Ashuganj combined cycle power project in Bangladesh. The company has won a total of $4.4 billion won of projects this year to date, reaching 72 percent of this year's overseas project goal of $6.1 billion won.