‘Viva Hyundai’ on a Cuban bill

Cuba’s new 10-peso note.Provided by Hyundai Heavy Industries

Hyundai Heavy Industries Co. boasted yesterday about the appearance of an electric power plant it had built for the Cuban government on a new issue of the 10-peso convertible peso note. Cuba has two currencies, one non-convertable and the other linked to the U.S. dollar.
Cuba has stressed the importance of increasing its electricity supply. The new bill carries the slogan “Revolucion Energetica,” or “energy revolution,” and has an image of a pre-packaged diesel-powered electrical generating station. Made up of four shipping containers with generator sets and a controller box, the unit was developed by Hyundai Heavy. One set, the company said, can supply the electrical needs of 3,000 households.
A Hyundai spokesman said Cuba’s geography made the distribution of electricity from large central plants difficult; he also noted the frequent hurricanes there that he said made large power plants difficult to use efficiently. Smaller, portable power generating facilities were more practical, he said.
The Cuban government designated 2006 as the year of its “energy revolution,” and President Fidel Castro visited Hyundai Heavy’s construction site in July to stress the importance of the project.
Hyundai Heavy won an order from Cuba in 2005 for 136 of the power plants, to be set up in 41 locations around the country. The contract was reportedly worth $720 million.

By Seo Ji-eun Staff Writer [spring@joongang.co.kr]