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South Korea looks for a stake in building UK’s Moorside Nuclear Power Station

Carlisle News and Star 30th Nov 2017, The British and Korean governments have agreed to greater collaboration onnuclear developments, fuelling speculation that a Korean company is about
to invest in West Cumbria’s Moorside power station.

Greg Clark, the secretary of state for business, energy and industrial strategy, and Paik
Un-gyu, South Korean minister of trade, industry and energy, signed a
Memorandum of Understanding on Monday in London. It promises greater
collaboration in both the construction and decommissioning of nuclear power
stations.

The signing appears to have only been reported by World Nuclear
News and Business Korea websites. State-run Korea Electric Power
Corporation (Kepco) has revealed it is in “working-level” talks to buy
a stake in NuGen – which plans to build three new reactions in West
Cumbria to provide seven per cent of the UK’s electricity needs.

Toshiba, NuGen’s current owner, has been exploring a range of options to fund the
project after its then subsidiary Westinghouse Electric – due to supply
three AP1000 reactors to Moorside – filed for Chapter 11 bankruptcy
protection in the US having overpaid by several billion dollars for another
nuclear construction and services business….http://www.newsandstar.co.uk/news/business/International-agreement-fuels-Korean-interest-in-Moorside-2cefe362-b678-4e12-9214-ad75be6a1933-ds

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December 1, 2017 - Posted by | marketing, South Korea, UK

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