Hanwha Engineering & Construction Corp., one of South Korea’s major builders, said Thursday it has signed a $448 million deal to build a power plant in Algeria.

Hanwha E&C said it plans to complete a simple cycle power plant in Biskra by 2015 under a deal with a unit of Sonelgaz, Algeria’s national gas and electricity company.

The power plant in Biskra, 330 kilometers southeast of the Algerian capital of Algiers, will be capable of generating 450 megawatts of electricity per year, the builder said. (Yonhap News)