• 3 minutes Could Venezuela become a net oil importer?
  • 7 minutes Reuters: OPEC Ministers Agree In Principle On 1 Million Barrels Per Day Nominal Output Increase
  • 12 minutes Battle for Oil Port: East Libya Forces In Full Control At Ras Lanuf
  • 9 mins Could Venezuela become a net oil importer?
  • 6 hours Reuters: OPEC Ministers Agree In Principle On 1 Million Barrels Per Day Nominal Output Increase
  • 4 hours Tesla Closing a Dozen Solar Facilities in Nine States
  • 9 hours Saudi Arabia plans to physically cut off Qatar by moat, nuclear waste and military base
  • 3 hours Why is permian oil "locked in" when refineries abound?
  • 1 min Gazprom Exports to EU Hit Record
  • 2 hours EU Leaders Set To Prolong Russia Sanctions Again
  • 2 hours Could oil demand collapse rapidly? Yup, sure could.
  • 2 hours Oil prices going down
  • 21 hours Teapots Cut U.S. Oil Shipments
  • 12 hours Saudi Arabia turns to solar
  • 3 hours EVs Could Help Coal Demand
  • 17 hours Battle for Oil Port: East Libya Forces In Full Control At Ras Lanuf
  • 1 day Russia's Energy Minister says Oil Prices Balanced at $75, so Wants to Increase OPEC + Russia Oil by 1.5 mbpd
  • 10 hours China’s Plastic Waste Ban Will Leave 111 Million Tons of Trash With Nowhere To Go
  • 22 hours Hot line, Macron: Phone Calls With Trump Are Like Sausages Best Not To Know What Is Inside
Azerbaijan’s Pipeline Conundrum

Azerbaijan’s Pipeline Conundrum

Azerbaijan’s European pipeline project is…

South Korean and Indian Firms Team up to Build Power Plants

State-run Korea Electric Power Corp. subsidiary Korea East-West Power Co. Ltd. has signed an agreement with Sahara India Power Corp. Ltd. to collaborate in constructing and operating coal-fueled thermal plants in Orissa on India’s eastern coast.

Under terms of the $9 billion project, Sahara India Power Corp. Ltd. and Korea East-West Power Co. Ltd. will build and operate coal-fueled thermal plants capable of generating 6,000 megawatts of electricity. In the first phase of the collaboration, the pair will build two 600 megawatt thermal power plants in Orissa, scheduled to come online by 2016, South Korea’s Yonhap news agency reported.

Sahara India Power Corporation Ltd. CEO Ashok Bhargava and Korea East-West Power Co. Ltd. President and CEO Gil Gu Lee have signed the project’s Memorandum of Agreement in New Delhi. The MoA is an extension of an earlier agreement between Sahara India Power Corporation Ltd. and Korea East-West Co. Ltd to construct a power facility in Titlagarh with two 600 megawatt thermal power plants.

Sahara India Power Corp. Ltd. and Korea East-West Power Co. Ltd. have already received Indian government approval to cooperate in the building and operation of the plants.
Korea East-West Power Co. Ltd. stated that its profits will come from the right to sell electricity for 25 years after the facilities come online.

By. Charles Kennedy, Deputy Editor OilPrice.com



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News