GS E&C makes coal deal with state-run electricity companyGS Engineering & Construction, the nation’s sixth-largest builder, said yesterday that it signed a technology cooperation agreement with state-run electricity producer Korea East-West Power (EWP) to export coal that has been upgraded using palm oil residue (CUPO) technology to Indonesia.
The CUPO technology increases the quantity of heat in low-quality coal by reducing moisture. The EWP and Korea Institute of Energy Research succeeded in increasing the amount of heat released after spending 19.8 billion won ($19 million) over four years.
Both companies are planning to set up a CUPO plant in Indonesia by March 2017. Indonesia accounts for 40 percent of Korea’s coal imports, according to GS E&C.
EWP will be responsible for engineering and technological advisory, while GS E&C will manage the coal supply from Indonesia as well as the plant design.