Nicaragua's state-owned power company Empresa Nacional de transmision electrica (Enatrel) has awarded a joint contract to Daewoo International and Hyundai Engineering to build electricity transmission lines and substations.

Under the terms of KRW30bn ($28m) contract, the South Korean companies will install five power substations and 80km 138kV transmission lines in the El Sauce region in the northwest of the country.

An undisclosed Daewoo International official said the Nicaraguan deal will provide the company with a foothold to further advance into the Central American market.

”We will do our best to find more business opportunities in power transmission and renewable energy projects in Latin America and other developing world markets," the official added.

The project is expected to be implemented on a turnkey basis for the whole process from design to actual construction.