South Korea's Daelim Industrial said on March 27 it won a US$130-million order from China to build a thermal power plant in Nanjing.
Daelim won the order from BASF-YPC of China, a joint venture between Germany's BASF AG -- the largest chemical group in Europe -- and China's Yangzi Petrochemical Corp, the company said in a statement.
The construction to build a plant with a power generation capacity of 180 megawatt will be completed by August 2004 on a turnkey basis, the statement said.
Daelim will get project financing from Export-Import Bank of Korea for the construction, it said.
Yangzi is based in the eastern Chinese city of Nanjing, capital of Jiangsu Province.
Daelim shares rose 2.2 percent to 16,350 won (US$12.32) on the morning of March 27, outperforming the broader market which was up 0.87 percent.
(Xinhua News Agency March 28, 2002)
