Kingline Development, the Korean developer of the 550 MW Gas Turbine Plant (Phase I) project in Ondo, Nigeria of which Hyundai Engineering is taking part, signed a partnership with an Africa-based power supply company Themis.
As part of the partnership, the 550 MW Gas Turbine Plant will be built in the Ondo State Industrial Park, 170 km to the northeast of Nigeria’s largest city Lagos.
Back in September 2017, HEC had signed an EPC contract worth $330 million with Kingline and concluded a power purchase agreement (PPA) with Nigerian Bulk Electricity Trading (NBET), a government electricity company, in December of the same year.
The project is a significant feat for the Korean construction and infrastructure industry that has transformed
how it does business, shifting from simple contractor projects to investment and development projects.