KEPCO KPS President Choi Yeu-geun

KEPCO KPS’s efforts to diversify overseas business portfolios have paid off. The company signed a trial operation and maintenance contract for the 2X693 MW Safi coal-fired power plant project with Daewoo E&C on March 4. 

The 18.5 billion own deal is the second turn-key agreement KEPCO KPS has won in Morocco since 2013 when the company won a trial operation and maintenance contract of the Jorf Lasfar thermal power plant project from the African country. 

KEPCO KPS was awarded a 12.1 billion won ROMM (rehabilitation operation maintenance and management) contract for a thermal power plant in Botswana this past February. 

KEPCO KPS had so far primarily focused on such overseas businesses as O&M projects, but the company is diversifying its business portfolios to trial operation & maintenance and ROMM projects. 

KEPCO KPS plans to retain its presence in the existing O&M market while ramping up its capability to tap the trial operation & maintenance as well as ROMM markets through acceleration of diversification, a KEPCO KPS official said. 

Since breaking into the global market, KEPCO KPS has promoted Korea’s top-level technologies and done brisk overseas business in such countries as India, Pakistan, Bangladesh, Madagascar, the Philippines and South Africa. 

The company started its overseas business 1982, and since then, it was won an order worth $100 million in 2007 and secured a $1 trillion contract for the Jordan IPP3 Power Project in 2012. It has put itself on a firmer footing and has been on track to expand its business on the global stage, animated by the latest accomplishments of obtaining India Bhavnagar Power Project and Uruguay Tigre Plant Project.

KEPCO KPS has become a truly unrivaled and leading global company in the power industry, thanks to its high technical prowess and work experience, providing the following services: O&M, retrofitting, and overhaul of power facilities; rehabilitation of turbine parts; and the maintenance of transmission facilities and technical training.

As the global demand for rehabilitating aging facilities increases, the company is redoubling efforts to seek ROMM (Rehabilitation Operation Maintenance and Management) projects and to diversify its business in response to such rapidly shifting market conditions. 

KEOCO KPS President Choi Yeu-geun attends along with executives at a ceremony to declare the vision of making KEPCO KPS a global top power plant total service provider at the KEPCO KPS headquarters building in Naju on Jan. 21. (Photos:KEPCO KPS)

Declaration of Vision 2025

KEOCO KPS declared the Vision 2025, calling for 3 trillion won in sales, raising the per capita productivity to 450 million won and increasing the portion of new growth engine projects to more than 38 percent by 2025. 

The company held a ceremony to declare the vision of making KEPCO KPS a global top power plant total service provider at the KEPCO KPS headquarters building in Naju on Jan. 21. According to the vision, the company set top three strategies designed to cope with rapidly changing business conditions retaining the conventional businesses, expanding new business models and securing long-term growth businesses. KEPCO KPS also set top 12 strategic tasks and 36 detailed strategic tasks.