Daewoo Engineering & Construction Co., South Korea‘s fourth-largest builder, said Sunday that it has signed a $723 million deal to set up a thermal power plant in Nigeria.

The builder said the new plant will be located 65 kilometers northwest of Port Harcourt, the largest city in the West African country, and near the large OML 58 gas treatment plant. The plant will have a power generation output of 420 megawatts with construction to be completed in 34 months.

Daewoo E&C will be in charge of the entire building process from engineering and procurement of building materials to actual construction of the facility, it said.

The latest deal pushes up the total thermal power plant orders secured by the builder to $2.6 billion this year.

(Yonhap News)