GDF Suez and Posco Energy are amongst the energy firms set to invest $1.3bn in a power plant in Ulaanbataatar, Mongolia.

Japan-based Sojitz and local firm Newcom are also involved in the deal with the government under a 25-year power purchase agreement.

The coal-fired, combined heat and power plant will have an electricity capacity of 415 MW and a steam output for heating of 587 MW. The plant will have three circulating fluidised bed boilers that use efficient pollutant control measures. Construction is expected to begin in 2013, with activation set for 2016.

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