POSCO E&C breaks ground for power plant in Bangladesh
A major construction project by a Korean firm has begun in Bangladesh / Courtesy of POSCO E&C
POSCO Engineering and Construction, a Korean builder, said Monday that it has begun construction of a coal-fired thermal power plant in Bangladesh.
POSCO E&C said it held a groundbreaking ceremony Sunday for the 1,200 megawatt power plant on Matarbari Island in southeastern Bangladesh.
POSCO said its work is worth 950 billion won ($891 million) and is part of a $4.5 billion project that is being undertaken by a consortium led by Japan's Sumitomo Corp.
Sumitomo said last year on its website the Japan International Cooperation Agency will finance the project through yen credit, and the construction is scheduled to be completed in July 2024. (Yonhap)