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Hyundai Engineering and Hyundai E&C bag $918mn order in Malaysia

2017.05.31 15:31:39
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The location of combined cycle gas turbine to be built in Malacca [Photo by: Hyundai Engineering Co.]

The location of combined cycle gas turbine to be built in Malacca [Photo by: Hyundai Engineering Co.]

South Korea’s Hyundai Engineering Co. and Hyundai Engineering & Construction Co. (Hyundai E&C) won a $918 million worth order in Malaysia to build the largest power plant in the Southeast Asian country.

The two Korean firms under Hyundai Motor Group struck a deal with Malaysian independent power producer Edra Global Energy Berhad to build a 2,242-megawatt (MW) combined cycle gas turbine (CCGT) power plant in Alor Gajah, Malacca, 90 kilometers southeast of Kuala Lumpur, according to Hyundai Engineering Wednesday. It would make the largest CCGT in Malaysia once completed over the next 40 months.

Hyundai Engineering will lead the works with an 85 percent stake, while Hyundai E&C will own a 15 percent interest.

Hyundai Engineering is working on a project in Malaysia it won in 2014 to build a 2,000-MW ultra-supercritical coal-fired power plant in Jima, Port Dickson, about 60 kilometers south of Kula Lumpur.

The Korean builders are expected to look to offshore power plant markets for business opportunities as new South Korean President Moon Jae-in has vowed phase-out from coal-fueled and nuclear power plants.

By Yong Hwan-jin

[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]

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