South Korea’s Daewoo International hopes to build Mongolian power plants

South Korea’s Daewoo International is hoping to build electric power plants for Mongolia in the near future. 

This follows Daewoo’s success in building and operating a power plant in remote Papua New Guinea. 

The Daewoo PNG Power Plant, now accounts for 40 percent of the total electricity consumed in the area Papua New Guinea. Company officials stress that the South Korean power plant has also become an important source of cash for both Daewoo and the country, earning some $5 million annually. 

The power plant came on-line in 1999, with two 12MWH-class electric generators producing 460MW of electricity each day for domestic consumption over the past eight years. 

``Since it retrieved the investment in 2003, the power plant gave a dividend of $5.2 million in 2003, $5.7 million in 2004, $4.3 million in 2005 and $4 million in 2006 to Daewoo International,'' Lee Sang-ha, chief of the plant, told the Korea Times. 

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