Korean companies sign MOU for hydropower project development

Korean Hydroelectric Power Agreement

Asian firms Daelim, Korea Midland Power (KOMIPO) and Lotte Engineering & Construction have signed a memorandum of understanding for the development of hydropower projects in Pakistan and Indonesia.

Signed at KOMIPO's headquarters in May, the agreement calls for the joint undertaking of the 640-MW Azad Pattan hydroelectric plant in Pakistan, and the 280-MW Muarra Juloi in Indonesia.

The agreement stipulates KOMIPO will be responsible for overseeing construction and operation of the projects, while Daelim's Civil Engineering Business Division and Lotte will design and build the plants.

HydroWorld.com reported that Pakisan was courting South Korean financiers to help develop as much as 60,000 MW of hydroelectric capacity this past March via projects that include Azad Pattan.

For more news from Asia, visit here.

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