POSCO E&C awarded power plant project in Panama
Posco E&C recently executed a US$650 million EPC turn-key contract with Gas Natural Atlantico S. de R.L and Costa Norte LNG Terminal S. R.L, (subsidiary of AES Panama) for Colon combined cycle power plant and LNG terminal project.
POSCO E&C will construct the largest combined cycle power plant in Panama with generating capacity of 380MW and LNG terminal with a capacity of 180,000 m3, located at Colon Province, 60km away from Panama City.
Power produced from the Colon combined cycle power plant can be supplied to around 15 million households simultaneously, which will ensure a stable supply to the industrial complex near the Panama Canal and Colon area.
Mr. Kun Soo Oh, Senior Executive Vice President of POSCO E&C, said “POSCO E&C was consecutively awarded two projects since December 2015 [by AES], in the Philippines and Chile. These awards have helped POSCO E&C to increase its competitiveness in overseas power plant markets.”