Daewoo International has agreed a deal to build a $1.3bn coal fired power station in Kenya, Africa.
The South Korean conglomerate Daewoo International (KRX: 047050) has entered into agreement with Kenyan Electricity Generating Company (KEGC) to build what will be the largest coal power plant in East Africa having two turbines with 300 MW capacity each, reported Reuters.
Prime Minister of Kenya, Raila Odinga, said during the signing ceremony in Seoul on 18 November that the new power plant would play a key role in his government's objective to add 1500 MW of new generation capacity by 2019.
Construction firms of South Korea have ramped up investment projects in Africa as the total value of deals signed as of 18 November has gone up by 28 per cent from 2011, according to the International Contractors Association of Korea.
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