Seoul Launches Emergency Plan to Save USD17.5B Czech Nuclear Deal
The Ministry of Trade, Industry and Resources said the government will draw up measures to hold the project to its timeline and head off similar contract failures.
The step comes days after Korea Hydro & Nuclear Power Co. (KHNP) ended negotiations with a consortium of Daewoo Engineering & Construction and Doosan Enerbility. The two sides could not agree on key contract terms.
The ministry was due to convene its first emergency meeting Monday to weigh next steps.
KHNP, South Korea’s state-run nuclear operator, will open a fresh tender to choose a construction contractor, targeting a signed agreement by July 2027. Construction is slated to start in November 2027.
“The minister and vice minister will personally review key project issues every week and take necessary measures for the time being,” Industry Minister Kim Jung-kwan said.
The 25 trillion won ($17.5 billion) project calls for two 1,000-megawatt APR1000 reactors at Dukovany. A KHNP-led South Korean consortium won the contract last year and then began talks with the Daewoo-Doosan consortium, which had been designated to carry out construction.
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
