Consortium Led by Kepco Wins a $20.4-Billion Contract for Nuclear Power Stations in the UAE

摘要

Emirates Nuclear Energy Corporation (ENEC) has selected the consortium headed by Korea Electric Power Corporation (Kepco) for the design and construction of nuclear power stations and for technical assistance with their operation under the civil nuclear energy program of the United Arab Emirates, (UAE), the country's official news agency Warn announced on 27 December. The contract is worth some $20.4 billion and covers the construction and commissioning of four 1,400-MW nuclear reactors and the supply of fuel for them. ENEC and Kepco have also agreed the key terms on which South Korean companies could invest in the project. The first nuclear power plant is scheduled to come on stream in 2017, and the other three by 2020. The Korean Ministry for the Knowledge Economy pointed out that the contract could bring the consortium additional revenues of $20 billion in respect of the operation and maintenance of the reactors over a 60-year period. "This agreement is the biggest project in the history of South Korea," declared the country's President, Mr. Lee Myung-bak.