Korea Electric Power Corp. (015760.SE) has selected Germany's RWE as its preferred partner to set up a joint-venture firm in coal trading, a Kepco official said Monday.
Korea Electric Power Corp. (015760.SE) has selected
Germany
's RWE
as its preferred partner to set up a joint-venture firm in coal trading, a
Kepco official said Monday.
The official, who declined to be named, didn't specify a timeline or the
country in which the JV company will be incorporated.
In July, Kepco's Executive Vice President & Chief Global Business Officer
Chang Joo-ok said it is examining various options to protect itself from
volatile fuel price movements, including increased investment in overseas
resources and setting up a coal-trading company.
A coal-trading arm, possibly based in
Singapore
,
would serve as a good "price-hedging vehicle" with the company aiming
to set up a joint venture with an experienced foreign company by the fourth
quarter of next year, Chang said then.
Five companies--two from
Australia
and
one each from the
U.S.
,
Germany
and
Switzerland
--had
been short listed to partner Kepco in coal trading, according to Chang.
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