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Daewoo E&C Wins KRW273 Billion CHP Equipment Contract from Korea South-East Power; Shares Decline 13%

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Daewoo Engineering & Construction (KRX:047040) secured a contract worth 273 billion won from Korea Electric Power (KRX:015760) subsidiary Korea South-East Power for the design, procurement, and technical support for a heat and power plant.

Under the contract, Daewoo Engineering & Construction will supply gas and steam turbine generators, heat recovery steam generators, and related equipment for the Songsan combined heat & power plant in Gyeonggi province's Hwaseong, according to a Tuesday filing with the Korea Exchange.

The contract runs from July 27, 2026, to Nov. 30, 2029.

Shares of Daewoo Engineering & Construction plunged 13% in recent trade, while those of Korea Electric Power fell over 6%.

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