All data is delayed
See More

Daewoo to build Kenyan power station

Nov 19 2012 13:01
Seoul - South Korea's Daewoo International signed a deal to build a $1.3bn power station in Kilifi County, Kenya with the Kenyan Electricity Generating Company, Daewoo said on Monday.
The coal-fired power station will be the largest in East Africa, with two turbines each producing 300 megawatts, the Kenyan Prime Minister's office said in a statement. 
Kenya's Prime Minister Raila Odinga, who was in Seoul on Sunday to sign the agreement, said the new power station is seen playing a key role in the Kenyan government's objective to add 1 500 megawatts of new power capacity by 2019.
South Korean builders have been stepping up its reach in securing African construction projects, with total value of deals signed as of Nov. 18 up 28% from 2011 according to the International Contractors Association of Korea.
South Korean companies are competing with the likes of China and Brazil for resources in fast-growing Africa as well as for contracts and Korea has stepped up aid and its diplomatic presence in the continent.


Read Fin24’s Comments Policy publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
Comments have been closed for this article.

Company Snapshot

We're talking about:


With infrastructure spending having been identified as one of the key focus areas of the National Development Plan, tradesmen will continue to play a critical role in growing the South African economy through their skills..

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

A 30% a month return on investment is:

Previous results · Suggest a vote