GBI - Gunsan Biomass Power Plant 200 MW - North Jeolla Province - Project Profile

Synopsis
"GBI - Gunsan Biomass Power Plant 200 MW - North Jeolla Province - Project Profile" contains information on the scope of the project including project overview and location. The profile also details project ownership and funding, gives a full project description, as well as information on contracts, tendering and key project contacts.

The "GBI - Gunsan Biomass Power Plant 200 MW - North Jeolla Province - Project Profile" is part of Timetric's database of 82,000+ construction projects. Our database includes a 10+ year archive of completed projects, full coverage of all global projects with a value greater than $25 million and key contact details for project managers, owners, consultants, contractors and bidders.
Scope
The project involves the construction of a 200MW biomass power plant in Gunsan No. 2 Industrial Zone, North Jeolla Province, South Korea.

The US$501 million project includes the following:

1. Construction of a cooling tower

2. Construction of a chimney

3. Construction of a substation

4. Construction of storage tanks

5. Construction of ash collector units

6. Installation of steam turbines

7. Installation of generators
Summary
Gunsan Bioenergy Inc (GBI), a special purpose company formed by Korea Midland Power Company (Komipo) is undertaking the construction of a biomass power plant in North Jeolla Province, South Korea.

The project involves the construction of a 200MW biomass power plant. It includes the construction of a cooling tower, a chimney, a substation, storage tanks, ash collector units and related infrastructure, and the installation of steam turbines and generators.

On January 20, 2017, the project secured funding from Hana Financial Investment Co., Ltd.

In May 2017, Lotte Engineering & Construction Co., Ltd. (Lotte E&C) was selected as the preferred bidder for the project. However, the final contract is not yet signed.

In October 2017, Samsung C&T, one of the bidder participated in the tender process, filed a case in the Jeonju District Court, stating that there was an issue within the comprehensive evaluation process.

The tender process on the project is presently getting delayed due to an issue raised against the comprehensive tender evaluation process. The process is expected to speed-up once the case is resolved.
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Key highlights