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National electricity firm Korea Western Power Co. Ltd. (KOWEPO), is looking to acquire 90,000 tonnes of high-sulphur fuel oil to arrive by March using two spot tenders, the company revealed on its website.

KOWEPO requires 45,000 tonnes of high-sulphur fuel oil with a maximum sulphur content of 2.59 percent to be delivered to the port of Pyeongtaek between March 1 and March 5, and a further 45,000 tonnes to be delivered to Pyeongtaek between March 10 and March 14.

The closing date for bids is January 30 at 15:00 hours (local time). The requested pricing formula is 'floating price (CFR or DDP)'.

Bids should be sent to the following address:

Fuel Procurement Team, Procurement Department
Korea Western Power Co., Ltd
27th Floor, GFC, 152
Teheran-ro
Gangnam-gu
Seoul, 135-984
South Korea

The telephone contact number is: +82 2 2161 1422.

Korea Western Power Co., Ltd. is a subsidiary of Korea Electric Power Corporation (KEPCO), South Korea's largest energy utility, which provides 93% of the country's energy and employs over 1,600 people. The company is part owned by the South Korean government, and is a member of the World Nuclear Association and the World Energy Council. Fitch Ratings have given KEPCO an A+ credit since August 2011, while Moody's give the utility an A1 stable rating.