South Korean telecommunications company KT Corporation (KT) has secured a second smart meter project in Uzbekistan.

The KRW30bn ($26.5m) contract will see the installation of smart energy meters in 360,000 households throughout Uzbekistan over the next two years.

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KT Global Business Office head Yoon Kyoung-Lim said: “This project shows KT’s success in building trust in Uzbekistan with our technological excellence.

“With the experience and know-how gained in Uzbekistan, we will accelerate our efforts to introduce our smart meter system throughout Eurasian markets.”

In 2015, the South Korean firm signed a deal worth KRW120bn ($106m) with state-run power company Uzbekenergo. The new contract is expected to strengthen KT’s presence in the central Asian country.

“The KRW30bn ($26.5m) contract will see the installation of smart energy meters in 360,000 households throughout Uzbekistan over the next two years.”

Under the first contract, KT is said to have installed smart energy meters in one million Uzbek households throughout the three provinces of Samarkand, Jizzakh, and Bukhara.

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Smart energy meters enable a two-way, real-time communication feature between the power company and its customers.

Uzbekenergo chairman Ulugbek Mustafoev said: “KT has successfully carried out its smart meter project since 2016, achieving satisfactory outcomes in effective energy management in Uzbekistan.

“We have asked KT to continue to cooperate in building an integrated smart meter system for the entire country.”

KT intends to further expand its business in Uzbekistan and enter various segments, including smart cities, fintech and digital healthcare, in collaboration with domestic small and medium-sized enterprises.