SEOUL, KOREA – In the coastal industrial city of Cilegon, 100 km west of Indonesia’s Jakarta, a waste gas power plant is being put up.
Waste gas refers to useless, junk gases produced in the process of steel manufacturing. The building of such a waste gas power plant that will generate energy by using waste gases is the first in Indonesia. This project has been undertaken by POSCO Energy.
The Export-Import Bank of Korea (Korea Eximbank) said it would provide USD 194 million in project financing for the project. POSCO Energy is the first Korean company that has embarked on the construction of a waste gas power plant abroad; this project is regarded as one of the most eco-friendly projects. Once the power plant goes into operation, it is estimated to reduce CO2 emissions by one million tons annually.
In November of last year, Samsung C&T won an oil and gas field development project in Texas, adopting sophisticated financing technique RBF (Reserve Based Financing), which requires ample experience and expertise involving the analysis of reserves, price prediction and estimation of the operating costs of the oil and gas fields.
Sean Chung (hbpark@etnews.com)
**Article provided by etnews [Korea IT News]
[Reference] : http://english.etnews.com/electronics/2715655_1303.html
