POSCO E&C Wins Contract for Malaysia Combined Cycle Power Plant

[Asia Economy Reporter Yoo In-ho] POSCO Engineering & Construction announced on the 19th that it has secured a $550 million (661.1 billion KRW) contract for a combined cycle power plant in Malaysia.

On the 13th, POSCO Engineering & Construction signed a contract for the construction of a 1,200 MW-class gas combined cycle power plant on Pulau Indah Island in Selangor, Malaysia's largest industrial region.

This combined cycle power plant project is jointly promoted by Malaysian developer Tadmax, Worldwide, an investment company under the Selangor state government, and Korea Electric Power Corporation (KEPCO).

Once completed, the power plant will be able to produce electricity sufficient for approximately one million local residents for one year. It is expected to contribute to stabilizing Malaysia's power supply and demand, which is anticipated to increase by 4% annually.

In November 2018, POSCO Engineering & Construction formed a consortium with Japan's Mitsubishi Corporation and was selected as the preferred negotiator by demonstrating its technological capabilities and project execution skills in competition with global companies such as Siemens. The construction period is 36 months after groundbreaking, and the company will undertake the design, procurement, and construction (EPC) work in an integrated manner.

A POSCO Engineering & Construction official stated, "We succeeded in securing the contract based on our extensive experience in constructing combined cycle power plants overseas, including in Latin America," adding, "We will use this project, the first we have secured in Malaysia, as a stepping stone to expand our business in Southeast Asian countries with which we have established economic cooperation under the government's New Southern Policy."

This content was produced with the assistance of AI translation services.