Daewoo E&C seeks gov't mediation in dispute over Czech nuclear project
Daewoo Engineering & Construction (E&C) said Monday it has asked the government to mediate a dispute with Korea's state-run nuclear power operator over a major nuclear reactor project in the Czech Republic. The company, which leads a construction consortium for the project, made the request to the Ministry of Trade, Industry and Resources after receiving formal notice Friday that Korea Hydro &…
Construction giant Daewoo Engineering & Construction (E&C) has approached the government for mediation in a dispute with Korea's state-run nuclear power operator, Korea Hydro & Nuclear Power (KHNP). The conflict arose after KHNP terminated contract negotiations for a major nuclear reactor project in the Czech Republic. E&C, leading the construction consortium for the project, requested the Ministry of Trade, Industry and Resources to intervene and resume negotiations to swiftly restore the project.
The Dukovany project, worth approximately 25 trillion won ($17.5 billion), entails the construction of two 1,000-megawatt APR1000 nuclear reactors, a model designed by Korea. KHNP ended negotiations unilaterally, citing E&C's refusal to incorporate rising construction costs in their revised proposal. E&C argued that it was unjust to hold a contractor, not accountable for increases in costs, responsible for them.
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.
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