jedenfalls hoert man nichts mehr ueber das MOU zwischen Kepco und Forsys, dagegen ist diese nachricht heute raus. canada statt afrika?
Korea Electric Power Corp. (KEPCO) President and CEO Lee Won-gul, right, shakes hands with Fission Energy Chairman Devinder Randhawa after signing a deal between a South Korean consortium led by the state-run power company and the Canadian enterprise for a joint investment in a uranium exploration project in the North American country at the KEPCO headquarters in southern Seoul, Wednesday. / Courtesy of KEPCO
By Ryu Jin Staff Reporter
Korea Electric Power Corp. (KEPCO) said Wednesday that a South Korean consortium led by the state-run power company has signed a 14 billion won ($14.8 million) deal with a Canadian uranium explorer to tap a mine in the North American country.
KEPCO President and CEO Lee Won-gul attended a ceremony to sign a contract for the joint investment with Fission Energy Chairman Devinder Randhawa at the company headquarters in southern Seoul, according to KEPCO.
Under the deal, the consortium will invest 14 billion won over the next three years to explore the uranium block in the Waterbury Lake of Saskatchewan Province, Canada, from this year. It will acquire a 50-percent stake in the block from the Canadian company in 2011.
Beside KEPCO, three other South Korean companies including Hanwha, Korea Hydro & Nuclear Power (KHNP) and Korea Nuclear Fuel Co. (KNFC), and Gravis, a Canadian uranium investment company, will take part in the project.
Last October, another South Korean consortium led by Hanwha signed a $4.6-billion deal with CanAlaska Uranium Ltd. to explore a uranium block in the same province until the first half of 2011.
KEPCO also took part in the project as a member of the consortium along with other companies such as Korea Resources Corp. (KORES) and SK Energy. But it is the first time that the state-run company has led a consortium for such an overseas project.
With domestic electricity sales nearing saturation point, KEPCO has recently been making endeavors to diversify its businesses into various areas including the exploration of natural resources abroad.
Lee, the 60-year-old chief executive officer who served as a vice minister of commerce, industry and energy, is well aware of the importance of overseas markets and, therefore, has given top priority to what he calls global management since taking office about a year ago.
KEPCO aims to be the top electric power firm in Asia with annual overseas sales of 3.8 trillion won ($4.0 billion), or about 8.3 percent of its total sales, by the year 2015. Its current overseas sales stand at around 200 billion won, just 1 percent of the total.
jinryu@koreatimes.co.kr
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