(MENAFN) The investments of Oman Oil Company (OOC) in South Korean electricity generator GS EPS has officially opened the third phase of the expansion plan, Times of Oman reported.
The expansion of the plant, located in the Pyongtaek region of Korea, will raise its total capacity to 1,500MW. OOC purchased a 30 percent stake in the plant in 2004, while the remaining 70 percent held by GS Holdings.
Deputy chief executive officer of OOC: "This is an important milestone in our power generation investments. It is part of the company's integrated strategy to diversify its growing investments internationally, and it will help us to continue expanding our portfolio in various sectors in emerging markets."
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