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FINANCIAL NEWS
Algeria awards S Korean consortium USD1.06b power plant contract
25 Nov 2012
(MENAFN) Algeria has awarded a USD1.06 billion contract to a South Korean consortium to build a combined cycle power plant in the North African country, Reuters reported.
The consortium includes Daewoo International, Hyundai Engineering and Hyundai Engineering & Construction.
Under the turnkey contract with the state-run Algerian Society of Electricity Production, the consortium will set up a 1,200-megawatt power plant in Algeria’s northeastern town of Ain Arnat, Daewoo said.
The statement added that the power station is slated for completion during a 39-month period.
South Korean builders are competing with firms from China and Brazil for construction contracts in fast-growing Africa.
Earlier this month, Daewoo International has won a USD1.3 billion deal with the Kenyan Electricity Generating Company to build a 600-megawatt, coal-fired power plant.
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BBK launches the Youth Advisory Council (YAC) to empower youth and advance innovation
08 Apr 2026
BBK awards over BD 1 Million to 273 winners in the February Al Hayrat Grand Prizes draw
01 Mar 2026
BBK activates partial remote working system for its workforce to ensure employee and customer safety and service continuity
24 Feb 2026
BBK discloses its financial results for the year ended 31st December 2025
05 Feb 2026
BBK announces December Al Hayrat Grand Prize winners and another wave of Grand prizes for February
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