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TITLE HANJIN Heavy Industries & Construction (HHIC) wins the bid of the last public thermal power plant project
NO 21 DATE 2016-10-18 HIT 1719

- Mechanical & electrical works – KRW 196.2 billion
- A project under the General Bid Evaluation System #1 in power plant¡¦ the last public thermal power plant project
- A great history of successful bids for various projects such as community energy system (CES) and combined cycle power plant (CCPP), strong desire to expand business areas


The HHIC consortium won a bid for the project under the General Bid Evaluation System #1 in public power plant.

On October 17, HHIC¡¯s construction division announced that it was named as the developer of the mechanical & electrical works for Shinseocheon Thermal Power Plant ordered by Korea Midland Power CO., LTD. (KOMIPO).

This project is aimed to install boilers, turbines and electrical systems for the construction of a 1,090MW coal thermal power plant in Maryang-ri, Seo-myeon, Seocheon-gun, Chungnam. For this, a total of KRW 196.2 billion will be invested for 47 months. As the organizer of the consortium, HHIC will hold 80% ownership.

The HHIC consortium won this bid in a fierce competition.
It appears that the competition was really high because it was the first plant development project under the General Bid Evaluation System and practically the last public thermal power plant project.

It is forecasted that there will not be any new thermal power plant development project for the time being due to high reserve margin.

Unlike the price procurement auction, this project is profitable under the General Bid Evaluation System. Therefore, a total of 11 consortiums including big businesses participated in this bid.
The General Bid Evaluation System in which the successful bidder is chosen after reviewing and evaluating bid price and bidders¡¯ capabilities (e.g., corporate social responsibility, etc.) was launched this year.

HHIC has accomplished great achievements in plant development including the success in Dangjin and Hadong and successful bid for the development of coal-handling facilities at the Gangneung Anin Thermal Power Plant last year. The company has also broadened its business area in power plant facility market.

In addition, DAERYUN POWER CO., LTD. and BYEOLNAE POWER CO., LTD., the subsidiaries of HHIC, are also capable of constructing a combined heat & power plant. In particular, the success in this bid proves HHIC¡¯s dominance in public power plant development market.

An official from the company said, ¡°Under systematic growth and development strategies, we have continuously promoted combined and coal thermal power plant construction projects and nurtured steel mill facility and new & renewable energy sectors.¡± He added, ¡°Based on our extensive construction experience and knowhow in power plant facilities and industrial plants, in particular, we are going to participate in a construction bid more aggressively in diverse fields such as combined cycle thermal power plants as well as coal-fired power plants.¡±


¡á Attachment: Air View of the Shinseocheon Thermal Power Plant


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