Power Construction Corporation of China said on Friday it had signed a $2.4 billion contract to build the second phase of a massive coal-fired power complex in southern India that will help meet soaring local demand for electricity.
The second phase of the project for India’s Infrastructure Leasing & Financial Services Limited (IL&FS) will include the addition of four generators each with a capacity of 660 megawatts (MW), the Chinese group said on its website.
The deal is an EPC contract, meaning Power Construction Corp. will be responsible for engineering, procurement and construction. It said the project will create more than 10,000 jobs in India and use power equipment made in China.
China has been playing an active role in power project construction overseas, particularly in developing countries, taking advantage of state financing as well as experience and technology acquired through three decades of economic boom.
Power Construction Corp., a…
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