KT wins smart meter project in Uzbekistan
October 31, 2018
South Korea's largest telecommunications company KT Corporation has won an energy contract for a second time in Uzbekistan. The 30 billion won contract will see smart energy meters installed in 360,000 households throughout Uzbekistan over the next two years. KT plans that its energy cooperation in Uzbekistan will become a springboard to further expansion in Eurasian markets.
KT formerly signed a deal worth 120 billion won (US$106 million) with Uzbekenergo, a state-run power company in the central Asian country, in 2015.
Based on KT's cooperation in Uzbekistan's energy sector, the Korean telecom firm plans to expand its business there beyond telecommunication services to convergence projects, including smart cities, fintech and digital healthcare, in collaboration with domestic small and mid-size enterprises.
"This project shows KT's success in building trust in Uzbekistan with our technological excellence," said Yoon Kyoung-Lim, head of KT's Global Business Office. "With the experience and know-how gained in Uzbekistan, we will accelerate our efforts to introduce our smart meter system throughout Eurasian markets."
KT installed its smart energy meters in 1 million Uzbek households throughout the three provinces of Samarkand, Jizzakh and Bukhara as a result of the first contract.
"KT has successfully carried out its smart meter project since 2016, achieving satisfactory outcomes in effective energy management in Uzbekistan," said Ulugbek Mustafoev, chairman of Uzbekenergo. "We have asked KT to continue to cooperate in building an integrated smart meter system for the entire country."
Kwon Yong-Woo, South Korean ambassador to Uzbekistan, said that he hoped KT's business in Uzbekistan would expand to a diverse number of fields in ICT, building on the company's sustained success installing smart energy meters.