KT signs ‘smart power’ deal with Uzbekistan

Lim Tae-seong, left, director of KT’s overseas business division, signed a deal with Iskandar Basitov, chairman of Uzbekenergo, on May 6 in Tashkent to build a smart energy system in Uzbekistan. Provided by the company

KT, the country’s No. 2 telecom company, struck a $101 million deal with Uzbekistan to provide a smart energy solutions system, the company announced Monday.

The company will supply sophisticated energy-metering solutions called Advanced Electricity Metering to state-owned power generator Uzbekenergo. Unlike conventional systems, the Advanced Electricity Metering system allows for two-way remote communication between metering devices at home and utility companies to better manage energy consumption.

The deal also requires KT to establish a Meter Data Management System and Customer Relationship Management system.

Supported by the Asian Development Bank, the project will take two years and four months to be completed and will affect 1 million households in three regions: Samarkand, Jizzakh and Bukhara.

The telecom company said the deal is part of KT’s efforts to pursue a new source of revenues.

“We are really pleased to announce that KT won an order to build a smart metering system in the largest overseas deal to date,” said Lim Tae-seong of the overseas business division at KT.

“Smart energy is among the five businesses that KT will focus on in the future,” he continued. “We will continue to seek ways to incorporate our expertise in telecommunications technology and other fields.”

KT said it will make efforts to expand its smart energy business to other neighboring former Soviet countries that have seen explosive growth in energy usage.

BY PARK EUN-JEE [park.eunjee@joongang.co.kr]