Power plants for India

Power plants for India

SEOUL (AFP): South Korea's Daewoo Corp. would invest US$1.47 billion to build two steam power plants with a combined capacity of 1,000 megawatts in Madhya Pradesh, India, a company spokesman said yesterday.

Daewoo would build, own and operate the plants for 30 years before selling them or extending its operation rights.

The company signed an agreement in September to sell power generated from the plants to the Madhya Pradesh state government.

It would call for bids this month for steam turbines and generators for the plants and select engineering firms, the spokesman said.