Total Construction Cost of 282.8 Billion KRW
500MW LNG Power Plant Construction
"Expecting to Win 2nd Block Construction Contract as Well"
DL E&C announced on the 25th that it has signed a contract for the construction of Block 1 of the Bundang Combined Cycle Power Plant Modernization Project.
The total construction cost is 282.8 billion KRW, of which DL E&C's share is 90% (254.6 billion KRW). The construction period is 44 months from the start date, with completion scheduled for the first half of 2028.
This project is the Bundang Combined Heat and Power Plant Modernization Project commissioned by Korea South-East Power Co., Ltd. The power plant was built according to the development plan of Bundang New Town in Gyeonggi Province, with Block 1 completed in 1993 and Block 2 in 1997. As the design lifespan of 30 years has arrived, the Block 1 and 2 facilities will be sequentially replaced to transform the plant into an eco-friendly power station. By replacing with high-efficiency equipment, the power generation capacity will increase from the existing 922 MW to 1,014 MW, and emissions of pollutants such as fine dust generated during power plant operation can be reduced.
DL E&C won the contract for the construction of Block 1. The plan is to demolish some structures within the existing operational power plant site and build a 500 MW liquefied natural gas (LNG) combined cycle power plant. This project is expected to serve as a stepping stone for winning the contract for the upcoming Block 2 construction.
Since its establishment, DL E&C has successfully completed a total of 57 power generation projects. It has construction experience with similar projects such as the Songdo Combined Heat and Power Plant and the Gwanggyo Combined Heat and Power Plant, and is currently carrying out the modernization project of the Bucheon Combined Heat and Power Plant.
Yoo Jae-ho, Head of DL E&C’s Plant Business Division, said, "We won this project as the client highly recognized our experience in executing power generation projects. With global electricity demand rising, domestic and international power plant construction orders continue, and we expect to expand orders in the power generation sector."
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