Abengoa has signed a memorandum of understanding (MoU) with the South Korea-based Daelim Industrial for the development of large water projects globally.

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The MoU enables the two firms to combine their expertise in several products and markets.

It will create synergies that present competitive advantage to carry out future projects in various areas, particularly in hydropower, construction of dams and tunneling and water treatment plants.

Daelim has global experience in technology and construction of dams, hydropower and water management projects.

The company has completed the longest hydraulic tunnel in domestic market and is developing several hydro IPP projects in Asia which are anticipated to achieve financial closes in 2015.

Abengoa is engaged in design, engineering and construction of hydraulic infrastructures.

Abengoa is also executing the $640m el Acueducto de Zapotillo project in Mexico.

The project will carry water to the municipalities of Los Altos de Jalisco and supply drinking water to nearly 1.5 million people.

The project includes the construction of 139km of large diameter pipes, pumping stations with a total installed capacity of 24,000 kilowatts.

Plans also include a water treatment plant with a 3,800 liter/second capacity, a 100,000 cubic meter storage tank, and a 40km distribution circuit in the municipality of León.

Image: Abengoa and Daelim Industrial will develop large water projects globally. Photo: Courtesy of winnond/FreeDigitalPhotos.net.