Hyosung Corporation, a South Korean company, and Ethiopian Electric Power (EEP) inked an agreement for the construction of the Southern Electricity Grid Expansion Project. EEP also signed an agreement with another South Korean company, Byucksan Power Co. Ltd., for consultation services on the project.

Hyosung Corporation will be engaged in building new power transmission lines and distribution stations on the Southern Electricity Grid. It is also expected to build a 420KM long electricity transmission line and construct, test, and inspect three new substations.

Korea Exim Bank will provide a loan of USD 178 million which fully covers the budget of the project. EEP stated that the project was planned to be completed in three years.

Source (including image): Fana BC