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Canadian Company Wants to Invest 150 Million Dollars in Generator Project

Dec 03,1998
Biosumica of Canada is attempting to invest 150 million dollars in a gas generator project in the city of Kimpo, near Kimpo International Airport.
According to the Korea Trade and Investment Promotion Agency (KOTRA) on December 3, Biosumica recently reached a preliminary agreement with Dong Ah Construction Co. to jointly form a new company which would construct a gas-powered generator facility by the year 2001.
The two companies plan to construct two generators with a capacity to produce 75,000 kw of electricity by 2001, with construction to begin at the earliest next year.
A source at Dong Ah Co. pointed out, ' The government has not concluded its development plan for the Kimpo region. Accordingly, it is difficult for the company to go ahead with construction plans.'
He also added that it is necessary for the government to move more rapidly so as to induce more foreign capital.


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