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.