South Korea has won a $600m order to build a waste-fired cogeneration plant in western Mexico, as Korean companies strive to further develop renewable business in the country.
Yonhap News Agency reports that the contract was signed in Seoul between Korea Environment Corp., a state-run company in charge of eco-friendly energy projects, and the Jalisco state government of Mexico, ministry officials said.
The contract calls for Korea Environment Corp. to complete building the plant in Jalisco by 2022. Cogeneration refers to the simultaneous production of electricity and heat.
The plant is expected to help Jalisco dispose of its waste efficiently and meet a rising demand for electricity, the ministry said.
Lee Chan-hee, a senior ministry official, said the contract is meaningful in the wake of the 50th anniversary of establishing diplomatic relations between South Korea and Mexico.
With the contract, the ministry will also help South Korean companies make inroads into the renewable energy sector in Mexico, Lee said.
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