Korea Electric Power Corporation will hold detailed discussions with United Arab Emirates about building four more nuclear reactors.
Korea Electric Power, or Kepco, is keen to build on its success after it headed a consortium that won a $20.4 billion contract in 2009 to build four nuclear reactors in the U.A.E. The company expects the first nuclear power plant to be built by 2017, and the remaining three to be completed by 2020.
Emirates Nuclear Energy Corporation said last month that it hoped to start construction on the first plant in the fourth quarter, if regulatory approval was received by the third quarter.
KEPCO would also begin exclusive talks with the UAE next year on a deal to build four additional nuclear plants to be completed by 2021, he said, aiming to conclude negotiations by the end of next year. "As far as I know, the UAE has not held talks with other countries," Kim said, referring to the potential deal for four additional reactors.
"Our efficiency will increase as we build the first four. We will achieve cost competitiveness if the same type of reactor is chosen, we can shorten construction time, meaning earlier returns on investment."