POSCO E&C to construct $1.14bn thermal power plant in Nigeria

POSCO E&C to construct $1.14bn thermal power plant in Nigeria
August 3, 2015 Advocaat Law Practice

POSCO Engineering and Construction (POSCO E&C) has been awarded $1.14bn engineering, procurement, and construction contract by Ebonyi Independent Power Plant for a power plant in Nigeria.

Under the contract, POSCO E&C will build a 2,500MW gas-fired thermal power plant, called Ebonyi Independent, in Nigeria.

The Ebonyi Independent power plant will be located some 300km south of the Abuja. Work under the contract is expected to be completed in 28 months.

The Korea Economic Daily cited POSCO E&C energy business division head Yeon Gyu-sung as saying, “The potential for the power plant market in Africa is limitless. With the latest order winning as a momentum, we plan to aggressively expand our reach to the Sub-Saharan African market.”

The contract is expected to strengthen POSCO E&C’s presence on the continent, which has great potential for market growth

Earlier, the Nigerian government had announced a plan to boost power output to 40,000MW by 2020, Yonaph news agency reports.