Kazakhstan awards $46M power line deal to South Korea consortium
March 02. Central Asia Newswire
The government of Kazakhstan has awarded a $46 million contract to a consortium of South Korean enterprises to lay power cables in Central Asia’s largest republic, South Korea’s national power company Korea Electric Power Corp (KEPCO) announced on Tuesday.
KEPCO will work with Hyundai Corp and Hyundai Engineering Corp, which is an industrial plant builder, to realize the contract.
According to the agreement with state-run Kazakhstan Electricity Grid Operating Company (KEGOC), the South Korean companies will extend electricity lines from a hydropower plant, the Korean Yonhap News Agency reported.
The consortium will construct 200 miles of 220-kilovolt power cables by October 2012, the news agency reported KEPCO as announcing on Tuesday.
“The order will pave the way for KEPCO to consolidate its presence as an emerging Engineering, Procurement and Construction (EPC) powerhouse in Kazakhstan’s power market,” Yonhap quoted the company as saying in a statement.
In late February, Kazakhstan and Korea announced a $100 million deal that will see KEPCO working with the Hyundai Engineering Corp to modernize critical power substations in Aktobe and Western Shymkent.
Kazakhstan is in the midst of overhauling its power grid system to optimize performance.