Hyundai E&C wins US$1.46 bln deal to build power plant in Vietnam

SEOUL, Sept. 18 (Yonhap) -- Hyundai Engineering and Construction Co. (Hyundai E&C), a leading South Korean builder, said Sunday that it has secured a US$1.46 billion contract to build a thermal power plant in Vietnam. Under the deal with Vietnam Electricity, the largest power company in the Southeast Asian country, Hyundai will build two 500-megawatt coal-fired power plants by August 2015. The plants will be built as part of the Mong Duong 1 project that aims to provide a stable, year-round supply of electricity to the northern part of the country. Hanoi is engaged in a concerted program to expand power generation capacity that is critical for sustainable economic growth. The plant, located 250 kilometers northeast of the capital city, will be built to meet eco-friendly requirements and have up-to-date facilities, the South Korean builder said. Hyundai E&C is an affiliate of Hyundai Motor Group, the world's fifth largest carmaker, and the 23rd biggest builder worldwide in terms of international orders won this year.