“New Silk Road” for Hyundai and Daewoo

A consortium of South Korea’s Hyundai Engineering and Construction and Daewoo International has been awarded a contract worth $819m to build two power plants in Uzbekistan.

The contract, for client Uzbekenergo, is for two 450MW combined cycle power plants in Talimarjan, near the city of Karshi.

Hyundae and Daewoo sign Uzbek power plant deal (Credit: Hyundai E&C)

It is Hyundai’s first project in the Central Asian region known as the Commonwealth of Independent States (CIS), formerly part of the Soviet Union.

The award prompted Hyundai to say that it enabled the company "to pave a new construction Silk Road".

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