POSCO E&C Wins $ 100 Million Deal

POSCO Engineering & Construction Co. (POSCO E&C), a subsidiary of South Korea's largest steelmaker, POSCO, said it has closed a $ 100 million (113.45 billion won) deal to build a thermal power plant in Mexico.

The company signed an agreement with Ener AB on March 6 (local time) to build a 100-megawatt Quirey power plant in Coahuila, Mexico, to provide stable capacity for the nearby Magnelec chemical plant. POSCO E&C plans to complete construction within 24 months from the start date.

Ener AB is a joint venture of the American energy company AES Corp. and the Mexican company Grupo Bal. AES currently operates power plants in 18 countries around the world and has had business ties with POSCO E&C since 2006. Grupo Bal is one of Mexico's conglomerates that are involved in mining, trading and insurance.


A POSCO E&C spokesman said, “In 2006, the company entered the Latin American energy market for the first time among domestic builders, and its accumulated orders from the region exceeded US $ 10 billion (11.35 trillion won) in 13 years thanks to the latest deal. "

Meanwhile, POSCO E&C won a 400 billion won (US $ 352.58 million) coal-fired power plant in Ventanas, Chile in 2006, two other coal-fired power plants in Kampiche and Angamos in the country in 2007. as well as a combined cycle. transactions with power plants in Kallpa and Chilca Uno, Peru, in 2009.