SK E&C wins USD 3.6-bln Iran power deal

Iran

SEOUL, March 20, 2017 – SK Engineering & Construction has won a USD 3.6-billion deal to build and operate power plants in Iran.

A deal under which the South Korean company will purchase 30% of Turkish energy company Unit International was announced on Sunday. SK E&C will build and operate five gas-powered plants as part of the deal.

The plants are expected to have a combined capacity of 5 GW.

The project will begin with a 1.2-GW plant at Saveh and an 800-MW plant at Zahedan. Their construction period is 30 months, and SK E&C targets testing by 2020.

“SK E&C’s participation in the project will pave the way for other Korean firms to contribute to Iran’s other infrastructure projects in the future,” the Korea Times quoted Land, Infrastructure and Transport Minister Kang Ho-in as saying.

In June 2016, Unit International secured a USD 4.2-billion contract with Iran’s Ministry of Energy to build seven power plants with a combined capacity of 6 GW.

Image: Korea Times