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KEPCO, Nuansa agree $150 mln coal terminal deal

Wed Apr 16, 2008 10:49pm EDT

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SEOUL, April 17 (Reuters) - Korea Electric Power Corp (051910.KS) said on Thursday it has signed a cooperation deal with Indonesia's Nuansa Group to build and operate coal terminals worth $150 million in total.

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Under the deal, KEPCO, South Korea's Kenertec Co 062730.KQ and PT. Nuansacipta Coal Investment, an affiliate of the Nuansa Group, will form a task force to build and operate three coal terminals in Indonesia, KEPCO said.

"With the cooperation deal, we will exercise our priority purchase right over Indonesian coal," KEPCO said in a statement.

South Korea, which is heavily dependent on foreign energy reserves, imports coal and natural gas from Indonesia which is the world's fifth-largest coal producer. (Reporting by Angela Moon; Editing by Keiron Henderson)

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