SEOUL, KOREA - POSCO Engineering & Construction will build a gas-fired thermal power plant in Nigeria worth US$1.14 billion. This is by far the largest deal ever won by the construction company for an overseas energy plant order. The contractor signed on September 12 an EPC (engineering, procurement, and construction) deal with Ebonyi Independent Power Plant Ltd. at its headquarters building in the Songdo Business District.

 

Under the terms of the contract, the Korean company will build a 2,500-megawatt power plant in the Ebonyi Province about 300 kilometers south of Abuja, the Nigerian capital. The length of the construction will be 28 months.

 

Yeon Gyu-sung, POSCO E&C energy business division head, said, "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." 

 

At the signing ceremony, 300 officials and dignitaries including Ebonyi Independent Power Plant CEO Terry Moreland, Ebonyi IPP president Farai Manjengwa, Ebonyi Provincial Government public works director Benjamin Okah, Goheung County head Park Byung-jong, and POSCO E&C energy division head Yeon Gyu-sung were in attendance.