The Ministry of Energy, the Korean Energy Agency (KEA) and the Korean company SK Engineering & Construction (SK E&C) signed a Memorandum of Understanding (MoU) to develop a feasibility study for the Mubarek TPP modernization project, the Ministry of Energy said.
The signing took place on the sidelines of the 8th International Renewable Energy Conference (KIREC 2019) in Seoul.
According to the terms and conditions of the MoU, following the approval of the project’s feasibility study and the audit, the Korean company will consider the possibility of managing the Mubarek TPP under public-private partnership terms.
SK E&C is part of SK Group, which is the third largest company in Korea (after Samsung and LG Group) with an annual turnover of more than US$ 213 billion and a net profit of US$ 23.8 billion in 2018.
