KHNP ends talks with consortium on Czech nuclear plant construction contract

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.