Korea Hydro & Nuclear Power (KHNP) has been finally selected as the contractor for the new nuclear power project in the Czech Republic, estimated to cost 26 trillion won, forming the backbone of 'Team Korea.' This marks the first time in 16 years that a Korean corporation has exported a nuclear power plant since the Barakah Nuclear Power Plant in the United Arab Emirates (UAE) in 2009.
According to Reuters, the Czech government held a cabinet meeting on the 30th (local time) and approved the budget for nuclear power construction, finalizing KHNP as the contractor. The Czech government plans to sign the main contract with KHNP on the 7th of next month.
Accordingly, a final contract is expected to be signed between KHNP and the contracting company, ČEZ Group's Dukovany II nuclear power plant manufacturer (EDU II), with officials from both governments attending.
The new nuclear power construction project won by KHNP involves building two 1,000 MW reactors, Dukovany Units 5 and 6, in the Dukovany region of the Czech Republic. The total project cost is expected to be approximately 400 billion koruna (26.2 trillion won).
After signing this main contract, KHNP plans to engage in follow-up contracts related to design, construction, and equipment procurement with Korea Electric Power Corporation (KEPCO) E&C, Daewoo E&C, and Doosan Enerbility to fully launch the project.
This marks the second time a Korean corporation has won a complete contract for nuclear power construction overseas, following the Barakah Nuclear Power Plant in the United Arab Emirates in 2009. Particularly, the business won this time is significant as it takes place in Europe, which is regarded as a mature market for nuclear power.
Previously, KHNP was selected as the preferred bidder for the Czech nuclear power project in July of last year after competing with the U.S. company Westinghouse and France's Électricité de France (EDF). However, the final contract signing was delayed due to objections raised by Westinghouse and EDF to the Czech Anti-Monopoly Office (UOHS), claiming there were flaws in the Czech public procurement bidding process. Recently, UOHS dismissed these objections, allowing KHNP to ultimately secure the project.
KHNP President Hwang Joo-ho noted, "We will do our utmost to ensure the successful signing of the main contract for the Czech new nuclear project, timely construction, and successful contract execution."