• 3 minutes Nucelar Deal Is Dead? Iran Distances Itself Further From ND, Alarming Russia And France
  • 5 minutes Don Jr. Tweets name Ukraine Whistleblower, Eric Ciaramella. Worked for CIA during Obama Administration, Hold over to Trump National Security Counsel under Gen McCallister, more . . . .
  • 9 minutes Shale pioneer Chesepeak will file bankruptcy soon. FINALLY ! The consolidation begins
  • 12 minutes China's Blueprint For Global Power
  • 15 mins The lies and follies of the "cry wolf" enviros: No more fire in the kitchen: Cities are banning natural gas in homes to save the planet
  • 8 hours Iran Finds New Oil Field With Over 50 Billion Barrels: Rouhani
  • 6 mins China's Renewables Boom Hits the Wall
  • 12 hours China Burns More Coal than the Rest of the World !
  • 7 hours Offshore SE Asia: Offshore OFS Could Get Major Boost in SE Asia
  • 8 hours CHK Trading @ 90 Cents
  • 11 hours Does Brazil Auction Flop Forbode the Outcome of the Saudi Aramco IPO ?
  • 13 hours New York State Taxpayers Lose 900 Million to Tesla
  • 11 hours "Climate Migrants"
  • 18 hours Giant Windmills Wildly Unpopular
  • 11 mins Judge Orders Trump To Release Tax Returns
Can Saudi Arabia Hold OPEC+ Together?

Can Saudi Arabia Hold OPEC+ Together?

In a struggling oil market,…

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
Download on the App Store Get it on Google Play