A North Korean organization is seeking €43 million (USD$49.1 million) in investment to renovate and modernize its “electric power sector,” an investment proposal posted on a DPRK-run website recently revealed.

The proposal, uploaded by the North’s Ministry of External Economic Relations, asks for technical assistance in the “replacement of distribution lines, updating operational voltage of distribution system and transformers” as well as the “installation of extra electrostatic capacitor system of various voltages.”

Investors will work with the Korea Foreign Investment and Economic Cooperation Committee “to update present existing steel distribution lines and improve operational voltage class,” it adds.

It also seeks help in