Korea’s SK Engineering and Construction, the engineering, procurement and construction (EPC) contractor for the new build project, has awarded the $45m contract.

Other partners in this power project include American firms Sargent & Lundy and CH2M Hill, which provides engineering services to SK Engineering and plant owner Minera Panama, respectively.

Located in Punta Rincon in Panama’s Colon province, the Paco power plant will supply electricity to a nearby copper mine owned by Minera Panama, a subsidiary of Canada-based Inmet Mining.

The company said this latest contract represents the first success in several collaborative projects with SK Engineering and Construction in Asia and the Americas.