Published : Dec. 20, 2017 - 17:28
A combined heat and power plant in northwestern China invested by LG International Corp., the trading arm of South Korea’s LG Group, has recently started operation, the company in Seoul said Wednesday.
Combined heat and power plant in Wuwei, Gansu Province, China (LG International Corp.)
In 2015, the company formed a joint venture with Gansu Province Electric Investment Group Corp. to build a power plant capable of generating 700 megawatts of electricity. Built on 410,000 square meters of land, the joint venture injected about 529.2 billion won ($486.7 million) into the plant, the first combined heat and power plant in Wuwei, a city in Gansu province.
LG holds a 30 percent of stake in the venture, with its Chinese partner holding the rest.
GEPIC is a public company owned by the Gansu provincial government. The company develops energy projects as well as runs logistics and property businesses, officials at LG said.
The Chinese project is a part of LG International Corp.’s overseas business. In another joint venture with Titan Group of Indonesia, LG is building a 41-megawatt water power plant in Hasang, North Sumatra.
By Cho Chung-un (christory@heraldcorp.com)