- Nuclear talks between Korea Electric, Turkey near conclusion
- Korea Electric Power Corp., which won an $18.6 billion atomic reactor order from the United Arab Emirates in December, is in the final stage of talks with Turkey for the construction of a nuclear power station.
A consortium led by Korea Electric will invest in the project, Chief Executive Officer Kim Ssang Su told lawmakers today in Seoul.
The Turkish government may take a stake of 60 percent in the company that will build the country’s second nuclear power station, Sabah newspaper reported on Oct. 4, without saying how it got the information.
Korea Electric is proposing to take the remaining share and will raise 70 percent of the estimated $20 billion cost through loans, the Istanbul-based newspaper reported.
Korea Electric is also seeking to build nuclear power plants in India and Malaysia and considers South Africa, Thailand, Kuwait and Saudi Arabia as potential markets, the Seoul-based company said in a report to lawmakers today.
State-run Korea Electric beat General Electric Co. and Areva SA to win an order to build four reactors in the U.A.E. The company signed an agreement in March with the Turkish government to study construction of a plant in Sinop, northeast of Ankara.