K&M was engaged by the development consortium comprised of Ssangyojng Engineering and Construction Company Ltd., Marubeni Corporation, and KMR Power Corporation to conduct a detailed feasibility study (including commercial, financial and technical studies) for the SiHwa Cogeneration Project in South Korea. The coal fired cogeneration project was expected to be constructed in the industrial park and to supply electricity to the grid and process steam to the industrial users and for district heating. The Feasibility Study examined seven (7) different technical plant options to meet the needs projected and to produce varying amounts of electric energy providing detailed technical and financial analysis for each of the options and recommending the optimal option. The study also examined South Korea’s investment environment and the most important strategic issues and risks for the project in this environment.