Vietnam power bid won by Koreans

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Vietnam power bid won by Koreans

Hyundai Engineering and Construction Co. said yesterday that it has secured a $1.46-billion contract for a thermal power complex in Vietnam.

Under the deal with Vietnam Electricity, the largest power company in the Southeast Asian nation, Hyundai will build two 500-megawatt coal-fired power plants by August 2015.

The plants will be part of the Mong Duong 1 project and are intended to provide a stable, year-round supply of electricity to the northern part of the country. Hanoi is engaged in a concerted program to expand power generation capacity for sustainable economic growth.

The complex is located 250 kilometers (120 miles) northeast of the capital city.

Hyundai E&C is an affiliate of Hyundai Motor Group.

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