POSCO Engineering & Construction Co. said Sunday it has won a 950 billion-won (US$832 million) deal to construct a coal-fired power plant in Bangladesh.
The construction arm of steelmaker POSCO will build a 1,200 megawatt plant and related facilities on Matarbari Island, Chittagong, some 280 kilometers southeast of Dhaka, under a contract signed with Japanese trading firm Sumitomo Corp.
POSCO has been stepping up efforts to boost its presence in fast developing Southeast Asian countries.
POSCO E&C also said it has recently won a 60 billion-won deal to improve the water supply facilities in Yangon, the former capital of Myanmar.
POSCO Daewoo Corp., a trading subsidiary of POSCO, said a hotel it developed in Yangon will open next month. Lotte Hotel & Resorts, the hotel arm of South Korean retail giant Lotte Group, has been commissioned to operate the hotel under its name. (Yonhap)