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According to a report in The Korea Herald, the proposed 50,000-kilowatt gas plant will be powered by waste from the Incheon region and when completed will produce 400,000 megawatt hours of electricity, enough power so supply about 100,000 homes.
The plant will cost 9.49 billion won to build and construction is slated to start later this year with commissioning in October 2005.
Under the terms of the contract, Eco Energy, which has Hyundai Mobis and Doosan Heavy Industries as its major shareholders, will build and manage the plant for 11 years before handing it over to the Korean Government.
The plant go-ahead is part of a drive by the Korean Government to make greater use of alternative energy.
