Loading...
See More

Daewoo to build Kenyan power station

Nov 19 2012 13:01 AFP

Related Articles

Kenya cuts lending rate by 11%

Kenyans see red over pricey govt chairs

Massmart in talks to enter Kenya

Project Kwale could make Kenya attractive

Airline expands routes with flights to Kenya

Kenya's rising lending rates hinder growth

 
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.
kenya

NEXT ON FIN24X

 
 
 

Read Fin24’s Comments Policy

24.com 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
0 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

We're talking about:

SMALL BUSINESS

Johannesburg has been selected to host the Global Entrepreneurship Congress in 2017. "[The congress] will ensure that small business development remains firmly on the national agenda and the radar screen of all stakeholders, the Small Business Development minister said.
 

Money Clinic

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

Voting Booth

People who fall victim to Ponzi scams are:

Previous results · Suggest a vote

Loading...