South Korean telco KT has signed a 30 billion won ($26.5 million) contract with state-run power electricity supplier Uzbekenergo to install smart meters in Uzbekistan.
Under the deal, KT will install smart meters in 360,000 households throughout the central Asian country over the next two years.
KT has made its foray into Uzbekistan’s energy sector since it secured a 120 billion won deal ($106 million) with Uzbekenergo to provide its smart energy meters in 2015.
The company so far installed its smart meters in 1 million Uzbek households throughout the three provinces of Samarkand, Jizzakh and Bukhara as a result of the first contract.
Smart meters are electronic devices that record electricity consumption and have a two-way, real-time communication feature between the power company and its customers.
With the smart energy meters, Uzbek households can monitor their real-time power usage and view online billing, enabling them to use electricity in a more efficient and effective way, KT said in a statement.
Following the deal with Uzbekenergo, KT said it hopes to expand its smart meter business to the energy sectors in other Eurasian countries.
"This project shows KT's success in building trust in Uzbekistan with our technological excellence," said Yoon Kyoung-Lim, head of KT's global business office.