President Shin Jeong-shik of Korea Southern Power Co. (KOSPO) inspects one of the power company’s power plants.

Korea Southern Power Co. (KOSPO) has teamed up with Hyundai Engineering and others in winning a $1.1 billion power generation project from the government of Angola, a major African oil producer. Overseas plant business outlooks are forecast to be rosy as Angola and other African oil producers are resuming large-sized infrastructure projects like the power plant project in Angola.

The BKB Consortium, comprising of KOSPO, Hyundai Engineering and BHI, singed an MOU on the construction of a 750MW combined power plant with Angola’s energy department in Luanda, the capital of Angola, on Nov. 19.

The project calls for building a large-sized power plant to supply electricity to an industrial complex, to be created in the Bangala area, a transportation center, 400 km south of Luanda. Investments are expected to amount to a combined $1.1 billion (1.24 trillion won), and its construction period is three years.

The project takes a Build, Operate and Transfer (BOT) format in which the consortium builds and operates the power plant for 30 years before it is transferred to the Angolan government.

Net proceeds from the operation of the projected plant are estimated to stand at $3 billion (3.4 trillion won). It is the first time that a large-sized project in Angola has been awarded to Korean companies.

The infrastructure developer BKB floated the proposal to the Angolan government, and other Korean companies such as KOSPO, Hyundai Engineering and BHI will join to construct and operate the plant.

Hyundai Engineering is reportedly considering its participation in a refinery plant being pushed by the Angolan government.

Korean companies are entering African markets to try to win large-scale projects being implemented by resources-rich nations. Angola is Africa’s second largest oil producer following Nigeria.

Major African countries, including Angola, are implementing ways to expand industry infrastructure such as power generation, steel-making and refinery by making the most of proceeds accrued from the sale of resources such as crude oil and iron ore.

Koh Myung-seok, head of KOSPO’s technology safety division, and other KOSPO officials pose for a group photo session after winning four awards, including the presidential award in quality management circle competition and the grand prize in the public entity category during the 44th National Quality Management Convention at COEX on Nov. 28. (Photos: KOSPO)

KOSPO, a Four-Time Winner of 44th National Quality Management Convention

KOSPO demonstrated its prowess in quality management by garnering four awards during the 44th National Quality Management Convention.

KOSPO was honored with the presidential award in quality management circle competition and the grand prize in the public entity category in the Korean National Quality Awards ceremony.

The power company was presented with the National Quality Maestro Prize and the presidential award in the Quality Management Contribution.

The 44th National Quality Management Convention, hosted by Korean Agency for Technology and Standards (KATS) under the umbrella of the Ministry of Trade, Industry and Energy (MOTIE) and organized by Korea Standards Association (KSA), took place at COEX Auditorium on Nov. 28.