December 16, 2014
U.S. conglomerate General Electric (GE) will sign a deal with
Cambodia’s state-owned utility company Electricite du Cambodge (EdC) on
Thursday to improve the country’s electricity grid, the U.S. Embassy
said in a press release Monday.
The multinational technology firm, ranked the seventh-most-valuable
brand in the world by Forbes, will conduct a study of the grid, which
currently relies on electricity imported from Vietnam to meet a growing
demand for energy.
“Through this contract, GE will provide electricity grid maintenance
services to EdC and conduct a study of Cambodia’s electricity grid to
identify ways that the grid can be improved,” the U.S. Embassy statement
says. Both EdC and GE said they could not provide further details on
the deal until Thursday.
In an October report by the World Bank and Asian Development Bank,
firms cited the high cost of electricity as the biggest obstacle to
doing business in Cambodia.
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