KHNP ends talks with consortium on Czech nuclear plant construction contract
Korea Hydro & Nuclear Power Co. (KHNP), Korea's state-run nuclear power operator, said Thursday it has ended negotiations with a local consortium on a construction contract for a nuclear power plant project in the Czech Republic after the two sides failed to agree on key terms. "The company has decided to terminate negotiations with a consortium comprising Daewoo Engineering & Construction and…
Korea Hydro & Nuclear Power Co. (KHNP), the state-run nuclear power operator of South Korea, announced on Thursday that it has terminated discussions with a local consortium regarding a construction contract for a nuclear power plant project in the Czech Republic. The negotiation break down occurred due to disagreements over crucial contract terms.
KHNP disclosed this decision in a press release. The termination of negotiations leads to the formal conclusion of talks and the commencement of preparations for a new tender to select a contractor. The Dukovany nuclear power plant project, estimated at 25 trillion won ($17.5 billion), entails the construction of two 1,000-megawatt APR1000 reactors, a design developed in Korea.
Korea's KHNP secured this project last year. Following the negotiation, KHNP had inked a construction contract with the Daewoo-Doosan consortium, which had been initially chosen as the construction contractor. The conclusion of these negotiations does not imply the end of the project.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
