KEPCO bags contract to operate UAE nuclear reactors

[THE INVESTOR]  Korea Electric Power Corperation has won a contract to operate a nuclear power plant in Barakah, United Arab Emirates.

South Korea’s state-run power provider said that the contract was signed with the Emirates Nuclear Energy Corporation. Under the contract, KEPCO will operate the four APR1400 nuclear reactors in cooperation with ENEC for 60 years. It is estimated to generate revenues of US$49.4 billion for the South Korea firm.

The reactors are being built by KEPCO-led consortium. The first reactor is set for completion in 2017, with the fourth reactor due for completion in 2010. 

According to KEPCO, ENEC will also sign on KEPCO and its subsidiary KEPCO KPS to send reactor maintenance personnel for 10 years.

By Choi He-suk (cheesuk@heraldcorp.com)