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Thursday March 22, 3:04 PMS.Korea UI Energy to build power plants in IraqSEOUL, March 22 (Reuters) - South Korea's UI Energy Co. Ltd. said on Thursday it has won a $261.5 million deal to build power station plants in Iraq, leaving German and Finnish competitors in the cold.The packaged power station plants, which consist of 60 containers each capable of generating 1.6 kilowatt of power, are portable and easy to transport compared to normal power plants, the company said. Construction will take six to eight months. The plants, to generate 306 megawatts of power to 120,000 Iraqis, will be subcontracted to Hyundai Heavy Industries Co. by UI Energy. The deal is to end in March of 2009. Shares for UI Energy jumped nearly 15 percent to 7,600 won ($8.11) after the news by 0643 GMT. |
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