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…
KHNP, the state-run nuclear power operator in Korea, has announced the termination of talks with a local consortium over a construction contract for a nuclear power plant project in the Czech Republic. The decision comes after the two parties were unable to reach an agreement on crucial contract terms. The project, valued at approximately 25 trillion won ($17.5 billion), involves the construction of two 1,000-megawatt APR1000 reactors in the Czech Republic.
KHNP had previously won the project last year and had been negotiating with a consortium comprising Daewoo Engineering & Construction and Doosan Enerbility. As negotiations are set to conclude formally, KHNP will now proceed with preparations for a tender to select 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.
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