nuclear-news

The News That Matters about the Nuclear Industry Fukushima Chernobyl Mayak Three Mile Island Atomic Testing Radiation Isotope

In the race to sell off nuclear power to Saudi Arabia, South Korea looks like the winner

South Korea’s KEPCO shortlisted to bid for Saudi nuclear project https://uk.reuters.com/article/uk-southkorea-nuclear-saudi/south-koreas-kepco-shortlisted-to-bid-for-saudi-nuclear-project-idUKKBN1JR1G4, Reuters Staff, 1 July 18   SEOUL  – State-run utility Korea Electric Power Corp (015760.KS) (KEPCO) had been shortlisted to bid for a nuclear project in Saudi Arabia along with the United States, France, China and Russia, South Korea’s energy ministry said on Sunday.

“We were informed by our Saudi counterpart, King Abdullah City for Atomic and Renewable Energy, that KEPCO was shortlisted for a nuclear project in Saudi Arabia,” the ministry said in a statement.

The statement said the winner of the tender was expected to be chosen in 2019. Saudi Arabia, the world’s top oil producer, plans to build two nuclear plants to diversify its energy supply and has been in talks with companies from South Korea, the United States, Russia and China for the tender.

In May, Saudi Arabian Energy Minister Khalid al-Falih met South Korean Energy Minister Paik Un-gyu in Seoul. Falih told reporters on the sidelines of an industry event that he was “optimistic” about South Korea being on the tender shortlist.

South Korea, the world’s fifth-biggest nuclear power user, is seeking to export its nuclear reactors abroad.

In 2009, a South Korean consortium led by KEPCO won an $18.6 billion (14.08 billion pounds) deal to construct four nuclear plants in the United Arab Emirates, the country’s ever nuclear export success.

KEPCO was also selected as a preferred bidder in December last year for Toshiba’s NuGen nuclear project in Britain and the Korean company planned to talk with Toshiba to buy a stake in the project.

Reporting By Jane Chung and Cynthia Kim. Editing by Jane Merriman

Advertisements

July 2, 2018 - Posted by | marketing, Saudi Arabia, South Korea

No comments yet.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.

%d bloggers like this: