Kepco makes inroads in Mongolia’s energy market

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Kepco makes inroads in Mongolia’s energy market

Korea Electric Power Corporation (Kepco) yesterday announced it made a preliminary contract with the Mongolian Ministry of Energy to construct a thermal power plant of 200-megawatt capacity in Ulaanbaatar, the country’s capital, and operation rights of the plant on Thursday local time.

Mongolia so far has imported electricity from Russia, as the country’s industrial development required about 31 percent more energy in 2012 compared to a decade before. However, largely due to increased electricity costs, the country recently decided to attract foreign investment.

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