UAE inks deal nuclear plants deal with S. Korea

The United Arab Emirates on Sunday awarded a South Korean consortium a prized $20 billion deal to build nuclear reactors in the oil rich Arab nation.

UAE inks deal nuclear plants deal with S. Korea

The United Arab Emirates on Sunday awarded a South Korean consortium a prized $20 billion deal to build nuclear reactors in the oil rich Arab nation.

Under the $40 billion deal announced on Sunday, which Seoul said it hoped would kick-start an export drive for its nuclear technology, the first nuclear plant in the Gulf Arab region is scheduled to start supplying power to the UAE grid in 2017.

A consortium led by state-owned utility Korea Electric Power Corp (KEPCO) aims to complete the UAE's four 1,400 megawatt reactors by 2020.

The South Korean president's office described the deal as "the largest mega-project in Korean history", while KEPCO said it was also it was in talks with Turkey to export two nuclear power reactors to Black Sea areas.


Agencies



Last Mod: 27 Aralık 2009, 17:45
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