S. Korea's Posco Gets $265M Loan For Plant Upgrades

Law360, New York (January 13, 2014, 3:57 PM EST) -- German government-owned development bank KfW IPEX-Bank and commercial bank Nord/LB will provide a €194 million loan ($265 million) to South Korean power company Posco Energy Co. Ltd. to expand a gas and steam power plant, KfW announced Thursday.

The loan will be used to add three new power units to the plant in Incheon, South Korea. The units, which the bank described as power islands, will generate a total of 1,260 megawatts of electrical energy. The new units, which will be supplied by German engineering giant...
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