[▲From right to left, Posco E&C Australia Managing Director Kong Young-pil, Posco E&C Executive Vice President Oh Kun-soo and SPACEcon Managing Director Raphael Shin. / Photo by source] POSCO Engineering & Construction (E&C) received a Letter of Award (LOA) to build coal-fired thermal power plants in Indonesia. The contract is worth of $1.35 billion (1.5 trillion won). A source familiar with the matter told The Korean Daily Hojudonga on Friday that Posco E&C Executive Vice President Oh Kun-soo and Posco E&C Australia Managing Director Kong Young-pil attended a signing ceremony with Raphael Shin, Managing Director of SPACEcon in Sydney on Dec. 28. Under the deal with Sydney-based SPACEcon, Posco E&C will build the facilities in Sumatra. The coal-generated power plants with a 920.2-megawatt capacity are scheduled to be completed by mid-2017. This project is going to be an EPC (Engineering, Procurement and Construction) as Posco E&C will be responsible for the whole project from start to finish, encompassing designing, tools and equipment manufacturing, installment. Posco E&C is a construction arm of the world’s third largest steelmaker POSCO. POSCO E&C Australia was established in Perth in 2011 in order to move into the Australian construction market. It won a $256 mn order to build a workers village at the Roy Hill iron ore mine in 2012, followed by a $350 mn project to build a cement plant in East Timor. It also won a $230 mn order to build a hotel in Perth last year. By Kyoum Hur khur@hanhodaily.com
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