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Daewoo E&C Wins Combined-Cycle Power Plant Contract from KEPCO Subsidiary

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Daewoo Engineering & Construction (KRX:047040) secured an order from Korea Electric Power (KRX:015760) subsidiary Korea Western Power for the construction of a 550MW combined-cycle power plant, according to a Friday filing with the Korea Exchange.

The contract amount of 209.7 billion won excludes value-added tax and reflects Daewoo Engineering & Construction's approximately 69.6% share of the total contract value.

The contract, when signed on Feb. 27, 2024, did not meet the disclosure threshold but became subject to disclosure following an amendment, the filing said.

Shares of Daewoo Engineering & Construction fell nearly 2%, while those of Korea Electric Power declined over 4% at market close.

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