General Electric Company of Libya (Gecol) is in final negotiations with South Korea?s Daewoo Engineering & Construction over the engineering, procurement and construction (EPC) contracts for two identical 750-MW gas-fired combined cycle power stations at Misurata and Benghazi. The contracts are worth a combined $787 million ? $421 million for the Misurata plant and $366 million for the Benghazi plant. Construction on both plants is due to begin next month and end in 2010.

Arabian Consulting and Engineering Services Company (Acesco) ? a joint venture of Gecol and Egyptian Electricity Holding Company (EEHC) ? will provide consultancy services and act as the owner?s engineer on the two plants.

Five companies submitted bids in November 2004 for the project at Misurata: Hyundai Engineering & Construction Company, Daewoo and Doosan Heavy Industries & Construction Company, all of South Korea, the US? Bechtel and a consortium of Black & Veatch, also of the US, and Turkey?s Gama. When the original bids expired, Gecol added the Benghazi plant to the tender and asked Hyundai, Bechtel, Doosan and Daewoo to submit new proposals. Gecol is also evaluating bids for the contract to install four 350MW steam turbine generators at an extension to the Tripoli West power plant and to build the 1400 MW Al-Khaleej steam power plant. Bidders are understood to include Daewoo, Hyundai, and Gama and TML, both of Turkey. Acesco is providing initial consultancy services.