KEPCO inks US$39m deal with Dominican Republic

[THE INVESTOR] Korea Electric Power Corp. has signed a US$39 million agreement with the Dominican Republic on Aug. 29 in Santo Domingo, it announced on Aug. 30.

The deal covers installing and replacing the distribution network across the Central American country, and the South Korean state-owned company will cover the whole process from planning to execution. 

KEPCO CEO Cho Hwan-eik (third from the right) and Dominican President Danilo Medina Sánchez (third from the left). KEPCO

As small and medium enterprises will participate in the project, it will lead to an additional 10 billion won (US$8.93 million) worth exports, KEPCO said.

KEPCO has completed a US$51 million won power distribution order from 2011 in the Dominican Republic. To alleviate the country’s chronic power shortage, its CEO Cho Hwan-eik and Dominican President Danilo Medina Sánchez discussed further cooperation on renewable energy.

By Hwang You-mee (glamazon@heraldcorp.com)