|By PR Newswire||
|November 2, 2012 05:31 AM EDT||
- Surpasses European and Japanese consortiums to win the contract thanks to its proven engineering and construction technologies
- A bridgehead now established to break into the construction market in Eastern Europe
SEOUL, South Korea, Nov. 2, 2012 /PRNewswire/ -- On October 31, at Krakow government office, Poland, POSCO E&C (Vice Chairman & CEO, Chung Dong Hwa) entered into a contract with Krakow worth 250 million dollars (USD) for a project involving energy recovery from household waste.
Mayor of Krakow Jacek Majchrowski, the Vice-Minister of Environment Aneta Wilmaska, CEO of Krakow Communal Holding Grzegorz Ostrzolek and Vice Chairman & CEO of POSCO E&C Chung Dong Hwa all attended the ceremony, which was held on the day of the contract being signed.
This facility with its 2 incineration units and combined heat and power systems will dispose of 680 tons of household waste in a day, about 220,000 tons a year, through recycling the waste as energy, generating about 95,000 MW of power a year.
POSCO E&C plans to start the detailed engineering stage within the month, beginning construction in July 2013, targeting to complete construction by December 2015.
POSCO E&C won the contract amid fierce competition against the world's best-known companies in advanced incineration technology, including CNIM (France), KEPPEL (Belgium), and HITACHI (Japan). In addition, POSCO E&C participated in the tender and secured the order independently, unlike other competitors, which participated as part of a joint consortium. The order is a tribute to the recognition POSCO E&C has won for its capability in engineering and constructing incineration plants.
Vice Chairman & CEO of POSCO E&C Chung Dong Hwa said: "It is a great honor to re-export the kind of incineration engineering and construction technology, given that our country depended primarily on green European countries for 30 years. As Poland plans 11 incineration projects by 2016, we will carry out this project to its successful conclusion, and establish a foothold in the markets of Poland and Eastern Europe."