Korea Electric Power Corp. on Thursday announced it has won the bid to establish $60 million worth of wires in the Dominican Republic.

The state-run firm will establish or replace 14,000 sets of telegraph poles and 870 kilometers of electric wires across the country by 2017.

This is the largest overseas project for the state-run institution. KEPCO already completed the $51 million construction of an electric power distribution facility in 2011.

“KEPCO’s winning the Dominican contract shows that we have world-class technology and management skills. We will continue to expand our business territory in the future,” KEPCO CEO Cho Hwan-eik said.

KEPCO signed a 13 billion won ($11.4 million) microgrid deal with a Canadian company, PowerStream, in July, and a smart grid export deal with the Dubai Electricity & Water Authority last month.

The company’s next target is South America, where it signed seven different memorandums of understanding with Brazil, Colombia, Peru and Chile in April.

By Bae Ji-sook (baejisook@heraldcorp.com)