Economy August 17, 2018 | 3:27 pm

Power company announces US$37.8M deal: no mention of tender

Santo Domingo.- South Korea’s power company Korea Electric Power (KEPCO) announced Fri. that it has won a US$37.8 million project to replace or build new energy distribution facilities in the Dominican Republic, a Korean outlet reports.

South Korea’s state power company has received an order to improve power management systems, including power lines poles, transformers and meters, in the south and east regions of the Caribbean country in the next two years, according to the agency Yonhap.

“The objective of the project is to reduce the rate of loss of transmission of electricity in the Caribbean country, by around 30%, and improve its energy infrastructure to cope with the growing demand,” the outlet reports.

It’s the third Engineering, Purchasing and Construction Management (EPC) project that KEPCO wins in the Dominican Republic after those obtained in 2011 and 2016.

The cumulative sales of the three projects reach US$140.0 million, according to company figures cited by Yonhap.

Tender

The report however doesn’t specify whether a tender if any was called by the government, through the State-owned Electric Utility CDEEE.

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