Kepco powers up with deal for $2.3 billion Vietnam plant

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Kepco powers up with deal for $2.3 billion Vietnam plant

An international consortium led by Korea Electric Power Corporation (Kepco) has inked a $2.3 billion deal to build a 1,200-megawatt thermal power plant in Vietnam, the company said yesterday.

The coal power plant will be built by 2018 on a build, operation and transfer deal. The consortium will run the plant for 25 years. Kepco and Japan’s Marubeni Corporation will have a 50 percent stake each.

The plant is expected to generate about $15 billion in revenue for Kepco. The Vietnamese government has agreed to purchase all electricity generated by the plant, it said. “It is a significant achievement given the competition against leading global companies, such as France’s EDF group and Japan’s Mitsui,” the company said.

With this latest deal, Kepco will have more than a 5,863-megawatt overseas generation capacity and operations in 18 countries.
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