An official from Korea’s Ministry of Commerce, Industry and Energy has announced that SK Corporation is to start construction of a 900 MW liquefied natural gas fuelled power plant in December this year. The power plant will be situated in Kwangyang, on the southern coast of South Korea.

The new plant will comprise two 450 MW turbines, the first of which will start commercial production in March 2005, with the latter starting in the December of 2006.

SK Corp., who wholly own the project, estimated to cost $304m, plan to seek foreign investment in the future, said the official.