▲The Chairman of Hyundai Corporation, Jung Mong Hyuk and the Chairman of Usinas y Terminales Eléctricas are shaking hands after signing the contract.
Hyundai Consortium that consists of Hyundai Corporation, Hyundai Engineering & Construction and KEPCO KPS has won a 620-million-dollar contract for ‘ Punta del Tigre Combined Thermal Power Plant’ ordered by Usinas y Terminales Eléctricas.
In 28th(Wed) local time in a conference room in Usinas y Terminales Eléctricas, Hyundai Consortium held a contract signing ceremony for the Uruguayan combined thermal power plant construction project where people concerned in the construction including the Chairman of Usinas y Terminales Eléctricas, the President of Usinas y Terminales Eléctricas, Jung Mong-Hyik, the chairman of Hyundai Corporation, Jung Soo-Hyun, the CEO of Hyundai Engineering & Construction and Kang Jae-Yol, the Director of the Headquarters of KEPCO KPS participated.
This is the largest power plant construction project in Uruguay ordered by the country to construct a combined thermal power plant with 530MW maximum capacity in Punta del Tigre located 40km west of the capital of Uruguay, Montevideo.
Hyundai Corporation will manage the entire project and provide an integrated solution. Hyundai Engineering & Construction will take care of engineering, purchase and construction. KEPCO KPS will operate and manage the plant after the completion of the construction. The construction period is 36 months from the beginning of the construction.
This contract was obtained after fierce competition against the world’s leading companies from the beginning of the bid. We could win the bid thanks to the synergy effect of the one-step-faster intelligence based on the local networks of Hyundai Corporation, the domestically and internationally well recognized construction ability and technology of Hyundai Engineering & Construction and the power plant operating knowledge of KEPCO KPS.
Hyundai Corporation played an important role in winning this contract by investigating the contracting party’s requirements and the information on the bid quickly from the beginning of the project in cooperation with consortium partners. This is the 2nd large-scale project won in the South American market through the unique project organization capability of Hyundai Corporation following the Columbian coal-fired thermal power plant construction project that was won earlier this year.
As a result of promoting the new market development and regional diversification strategy continuously, Hyundai Engineering & Construction has won large-scale construction projects in South American countries including Colombia, Venezuela, Uruguay in a row. We are expecting that we will take the advantageous position for similar construction projects planned in the future in South American countries.
A consortium official has said, “This project is one of the large-scale combined thermal power plant Korean companies won in South America. It will contribute greatly to solving the electric power shortage in Uruguay as well as laying foundation for the economic growth through the establishment of infrastructure in the electric power field.”, and added “It is expected that this will be an important trigger for the entrance of Korean power generation industry into the South American market in the future.”