POSCO E and C wins 950 bln-won deal to build power plant in Bangladesh

SEOUL-- POSCO Engineering and Construction Co. said Sunday it has won a 950 billion-won (US$832 million) deal to construct a coal-fired power plant in Bangladesh.

The construction arm of steelmaker POSCO will build a 1,200 megawatt plant and related facilities on Matarbari Island, Chittagong, some 280 kilometers southeast of Dhaka, under a contract signed with Japanese trading firm Sumitomo Corp.

POSCO has been stepping up efforts to boost its presence in fast developing Southeast Asian countries.

POSCO E and C also said it has recently won a 60 billion-won deal to improve the water supply facilities in Yangon, the former capital of Myanmar.

POSCO Daewoo Corp., a trading subsidiary of POSCO, said a hotel it developed in Yangon will open next month. Lotte Hotel and Resorts, the hotel arm of South Korean retail giant Lotte Group, has been commissioned to operate the hotel under its name.

Source: Yonhap News Agency

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