A South Korean consortium led by Hyundai Engineering & Construction Co. has
won a US$630 million deal to build a power plant in Uruguay, the local builder
said Thursday.
Under the contract with Usinas y Trasmisiones
Electricas, Uruguay's state-owned power company, the consortium will build a 530
megawatt thermal power plant in Punta del Tigre, about 40 kilometers west of the
capital city, Montevideo, according to South Korea's top builder Hyundai
Engineering.
The consortium will complete the power plant 36 months
after starting construction.
The amount of the deal won by Hyundai
Engineering on its own reached $542 million, accounting for 80 percent of the
$630 million contract.The deal marks the first time for Hyundai Engineering to
foray into Uruguay.
The consortium consists of Hyundai Corp., a
trading firm, and KEPCO Plant Service & Engineering Co., an industrial plant
builder affiliated with Korea Electric Power Corp. (KEPCO), a state-run power
provider.