KHNP, consortium fail to agree on Czech nuclear plant contract
Korea Hydro & Nuclear Power (KHNP) announced Thursday that it had ended negotiations with a consortium of Daewoo E&C and Doosan Enerbility over a construction contract for a 26 trillion won ($19.4 billion) nuclear power project in the Czech Republic, after the two sides failed to reach an agreement on key terms. KHNP said it would begin terminating its cooperation agreement with the consortium…
The Korea Hydro & Nuclear Power (KHNP) has announced the termination of negotiations with a consortium comprising Daewoo E&C and Doosan Enerbility for a 26 trillion won ($19.4 billion) nuclear power project in the Czech Republic. The two parties were unable to agree on key terms, leading KHNP to plan for a competitive bidding process to select a new contractor.
The decision follows approximately 15 months of negotiations, during which the two sides had already been at odds over significant contract terms. KHNP aims to minimize disruption to the construction of the two Korean-designed APR1000 reactors at the Dukovany site and will work towards a smooth transition to a new contractor.
Brief written by urgent.news from The Korea Times's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
