(Yicai Global) April 26 -- Sinosteel Engineering & Technology, a well-known Chinese engineering contractor, has signed deals worth almost USD1.24 billion to build coal-fired power plants in Mongolia and Turkey.
The Beijing-based company inked agreements with Mongolia for USD566.1 million and Turkey for USD670 million during the Belt and Road Forum for International Cooperation in Beijing, it said yesterday.
A wholly owned unit of Sinosteel Equipment will build plants for Mongolian coalmine and electric power operator Tsetsens Mining and Energy, including two 150-megawatt coal-fired power stations and a 69-kilometer-long transmission grid and supporting infrastructure, the firm said. Construction will take 36 months.
It penned a cooperation framework agreement with Turkish coalmine and electric power developer Polyak Eynez Enerji Uretim Madencilik Sanayi ve Ticaret to build two 350 MW coal-fired plants.
The subsidiary will serve as the general contractor in the two projects to oversee design, equipment and material purchase and supply, construction, equipment installation and debugging, the statement said.
The second Belt and Road Forum has attracted 37 heads of state or government and thousands of representatives of different fields from over 100 countries. It runs from April 25 to 27.