Turbine Contract For A New Coal-fired Power Plant In Panama To Supply Copper Mine
Wednesday, October 10 2012 @ 11:47 AM EDT
Contributed by: Don Winner
The contract, valued at approximately US$45 million, was awarded by SK Engineering and Construction Co Ltd of Korea, the engineering, procurement and construction (EPC) contractor for the new build project.
Other partners in the project include US companies Sargent & Lundy and CH2M Hill, providing engineering services to SK Engineering and plant owner Minera Panama S A respectively.
The 320MW Paco power plant is located in Punta Rincon in Panama’s Colon province, approximately 120km west of Panama City. When commissioned, it will supply electricity to a nearby copper mine owned by Minera Panama, the Panamanian subsidiary of Canada's Inmet Mining Corp.
As the grid frequency in Panama is 60Hz, the Paco plant will provide an important reference for Skoda Power’s 3,600 rpm steam turbines. It also represents the first success in several collaborative projects with SK Engineering and Construction in Asia and the Americas.
Editor's Comment: This is the power plant that will provide electricity to the Inmet copper mining project. This investment of $45 million is part of the more than $6 billion that will be spent to build this mine. It represents only .75% (yes, less than 1%) of the total expenditure. To put things in perspective, the annual budget for the entire Judiciary system in Panama is only about $100 million.