Hanwha Engineering & Construction Receives US$450 Million Order from Algerian Public Energy Corporation to Build Energy Plant
- Hanwha wins contract for Algeria’s state-owned energy corporation to build energy plant with electricity capacity of 450MW
- Hanwha establishes foothold to enter North Africa by rapidly increasing number of orders
[31 October, 2013] Hanwha Engineering & Construction announced last week that it has accepted the order placed by the Societe Algerienne de Production d’Electricite (SPE) to construct a power plant that would cost up to US$450 million.
Hanwha Engineering & Construction has the experience of successfully constructing a US$400 million oil plant in Arzew, Algeria in 2008. This time, Hanwha will be constructing a power plant that produces electricity through natural gas in a province called Biskra, 330 kilometers away from Algeria’s capital city, Algiers. The construction is expected to take about 14 to 15 months and once it is finished, a Simple Cycle Power Plant will start to operate, producing 450MW of electricity. The contracted price is US$448,737,000.
The contract was signed in the form of an EPCC-LSTK (Lump-sum Turnkey) which includes the process of planning, purchasing, construction, and trial operation. After a positive evaluation of Hanwha’s EPC expertise, SPE chose Hanwha Engineering & Construction for the project because of its capability to successfully execute various types of projects related to energy plants without any flaws. SPE is a company under SONELGAZ, Algeria’s public electricity and gas company. The company has installed a number of facilities that can generate a total 8,800MW of electricity. It is also in charge of building energy plants in Algeria that produce steam, gas turbine, water, and diesel. Algeria is the fourth largest energy exporter in the world and as a result, it is highly dependent on oil and natural gas.
"Winning this project proves that Hanwha has been acknowledged for its expertise and experience of successfully executing the Algerian project in the past, without any flaws," said Jin-Hwa Kim, the Plant Division Director of Hanwha Engineering & Construction.
"This is a significant development because Hanwha is now able to move beyond the Middle East and diversify its operations in other regions."
Hanwha Engineering & Construction aims to become a global company with 65% of its profit coming from the overseas markets supported by the annual growth of 25% in overseas markets until 2015.
Energy Plant Project Summary
|Project Name||Algeria 450MW Biskra Simple Cycle Power Plant|
|Location||Biskra, a province 330 kilometers away from Algeria’s capital city, Algiers|
|Contract Price||US$450 million|
|Client||SPE (public energy corporate of Algeria)|
|Contract Type||EPCC-LSTK(Lump-sum Turnkey)|
|Construction Period||14 to 15 months (Expected to be completed by early 2015)|
· Annual electricity production capacity of 450MW (GTG x 2 units)
· Construction site dimension of 330m x 420m (138,600㎡)
For more information:
- Peter Kwon
- Hanwha Engineering & Construction
- Hanwha Bldg. 3F~5F #1 Janggyo-dong, Hanwha
- Tel: +82 (0)2 2055 5304
- Email: -@hanwha.com
Hanwha Engineering & Construction
Hanwha E&C has rapidly grown into a global player by leveraging its extensive experience in construction projects and by implementing its new technologies and long-term expertise in constructing a range of industrial, chemical, and power plants, civil engineering works, commercial buildings, and more. We have averaged an annual growth rate of 30 percent since 2002, and won international recognition. We've been recognized as a top global contractor in Engineering News Record and our works often referred to as the "bible of the construction industry."
For more information, visit: www.hwenc.com
Hanwha Group, founded in 1952, is one of the Top-Ten business enterprises in South Korea and a “FORTUNE Global 500” company. Hanwha Group has 61 domestic affiliates and 258 global networks in three major sectors: manufacturing and construction, finance, and services and leisure. With more than 65 years track record of industrial leadership, Hanwha’s manufacturing and construction businesses encompass a broad range of fields from chemicals & materials, aerospace & mechatronics, total solar energy solutions, and global construction. The finance network, covering insurance, asset management and securities, is the second largest non-bank financial group in South Korea. The services and leisure sector offers premium lifestyle services with retail and resort businesses.
For more information, visit: www.hanwha.com
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