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Power firms hunt for partners

Power firms hunt for partners

A GROUP of 20 South Korean power companies are seeking domestic business partners in order to develop Cambodia’s nascent energy sector.

Yesterday, representatives from the Korean companies met with 67 local companies – including officials from 10 power plants together with electrical product distributors – at the capital’s Phnom Penh Hotel.

Kim Yoon Kyong, assistant to Yoon Tae Chu, managing director of Korea East-West Power Co, which led the Korean group, said: “This is the first time we have come here to seek for local business partners. The electricity and energy sectors in Cambodia are still weak and have a lot of room to grow.

“We are specialised in this sector, so our presence in Cambodia would contribute to the development of this country’s energy sector.”

EWP currently operates six power plants in Korea, accounting for 12.9 percent of national power generation facilities. The six plants produce 9,509 megawatts of power each year.

Among the other Korean firms represented included companies specialising in: power plant construction and machinery, petrochemical and refinery plant equipment, engine generators, solar energy, wind power plants and mining.

Although investment plans were not detailed during the course of the event, Cambodia’s energy officials remained positive for future partnerships.

Iv Visal, deputy director of the Electricity Distribution Division at Electricité du Cambodge, said yesterday that Korean input and expertise would help the Kingdom.

“They contribute to develop the sectors in Korea. Through their presence we hope that Cambodia’s power and energy sectors will be as developed as those in Korea in the future,” he said.

Cambodia is in the process of expanding its energy sector, in part through Chinese investment. China’s Huadian Power International Corp is financing a US$412 million hydropower plant in Koh Kong province.

According to the Ministry of Industry, Mines and Energy, from 2011 until the end of 2013, Cambodia aims to have a total of 869 megawatts of power generated by hydroelectric dams at Kamchay, Attay, Tattay, Kirirom 3 and Russei Chrum Kraom River, together with a coal power plant in Preah Sihanouk province.

Energy demand in Phnom Penh is currently around 300 megawatts per year, and is projected to increase by 25 percent in the next year.

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