Daelim to construct thermoelectric power plant in China

26-03-02 Daelim Industry has won a $ 130 mm order from BASF-YPC to build a thermoelectric power plant in Nanjing, China, the company said. BASF-YPC is a joint venture between German chemical giant BASF and China's YPC, an affiliate of China Petroleum and Chemical Corp.
Under the project, the Korean builder will supervise the entire process of constructing the power plant, which will have a power generating capacity of 180 MW, ranging from designing and purchases to construction and test-run operations.

Daelim, which already participated in three construction projects of petrochemical plants in China, has become the first domestic company to win a turnkey contract in the emerging economy, a sign that the company's high level of technology is becoming recognized abroad, the company said.
Daelim and BASF-YPC signed an agreement on the project in China that calls for construction work to be completed August 2004. "Korea Export and Import Bank will extend loans to BASF-YPC to help it settle the construction costs in the form of project financing and it has kept an eye on the bidding process to help Daelim win the bid from the outset," the construction firm said.