KEPCO selected as top bidder for UK nuclear project

KEPCO selected as top bidder for UK nuclear project


South Korea’s state-run utility firm,… Korea
Electric Power Corporation, has been announced as the preferred bidder for a project to build
a nuclear power plant in Britain. KEPCO plans to negotiate with the consortium
in charge of building the plant in the coming months before putting pen to paper on the
deal. Park Hee-jun reports. South Korea’s state-run energy firm KEPCO
on Wednesday, was selected as the preferred bidder for the U.K.’s NuGeneration consortium,…
a 19-billion dollar nuclear project billed as the largest nuclear plant in western Europe. Toshiba, which holds a 60 percent stake in
the NuGen consortium in charge of building the plant in the northwest of England,…
chose KEPCO as its preferred bidder to build three nuclear facilities. Toshiba has been suffering financially due
to losses in its U.S. nuclear business, Westinghouse, earlier this year,… forcing it to withdraw
from the overseas nuclear business KEPCO has been competing with China General
Nuclear for the contract. But KEPCO’s successful performance in the
United Arab Emirates, along with China’s poor cyber-security record, helped it beat the
Chinese company. According to KEPCO, the company will negotiate
with Toshiba over the next few months, aiming to sign a deal sometime in the first half
of next year with the approval of the British government. With most details undecided at present, it
may take as long as 2 to 3 years to finalize the deal. If the deal goes ahead, it would be the second
overseas nuclear project contract for KEPCO since the project in the UAE 8 years ago
,…and with its victory in Britain,… the firm plans to expand its nuclear exports to
other parts of the world. Experts say that KEPCO winning the contract
shows the competitiveness of Korea’s nuclear industry, and that the deal will open new
doors for the country’s entry into the 548-trillion dollar global nuclear energy market. Park Hee-jun, Arirang News.

Leave a Reply