Cutuco Energy To Launch EPC Tender For Gas-Fired Power Plant in El Salvador

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Researched by Industrial Info Resources (Sugar Land, Texas)--The Central American branch of Houston-based Cutuco Energy by the end of the year plans to award the engineering, procurement and construction (EPC) contract to develop a 525-megawatt gas-fired power plant in Puerto Cutuco in La Union, El Salvador.

The proposed project is an integrated power undertaking that comprises the construction and operation of a liquid natural gas terminal, a power generating plant consisting of two gas turbines and one steam turbine, a desalinization plant and two power transmission lines.

Cutuco Energy received the environmental permit to construct the facility from the government of El Salvador in July 2007 and expects construction to begin in the first part of 2011 with work projected to take about 44 months.

The total cost of the project has risen from an initial projection in 2005 of $650 million to $950 million. According to the project's director, financing is the main issue to be resolved, and the company hopes to reach a positive result by the end of this year. The Central American Bank for Economic Integration was granted a mandate to act as a lead financial arranger for the proposed project last year.

Cutuco Energy's Plant will help respond to the future power demand of El Salvador and Central America, and the project will create nearly 1,000 temporary jobs as well as permanent employment.

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