{"id":9571,"date":"2012-04-03T03:47:11","date_gmt":"2012-04-03T01:47:11","guid":{"rendered":"http:\/\/www.myza.co.za\/04\/kepco-plans-talks-with-uae-on-4-more-nuclear-plants\/"},"modified":"2012-04-03T03:47:11","modified_gmt":"2012-04-03T01:47:11","slug":"kepco-plans-talks-with-uae-on-4-more-nuclear-plants","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/kepco-plans-talks-with-uae-on-4-more-nuclear-plants\/","title":{"rendered":"KEPCO plans talks with UAE on 4 more nuclear plants"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>By Meeyoung Cho<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p><span class=\"articleLocation\">SEOUL, April 3<\/span> (Reuters) &#8211; Korea Electric Power Corp (KEPCO)<br \/>\n said it will begin talks next year with the United<br \/>\nArab Emirates on a new deal for four nuclear power plants, and<br \/>\nplans to spend 800 billion won ($706.06 million) this year on<br \/>\noverseas resources development including acquisitions.<\/p>\n<p><span><\/span><\/p>\n<p>President and Chief Executive Kim Joong-kyum told reporters<br \/>\nlate on Monday that the state-run utility would start<br \/>\nconstruction on four nuclear power plants in the UAE on July 1,<br \/>\nadvancing the start date by four months, pending regulatory<br \/>\napproval by June 30, with completion scheduled for 2017-2020.<\/p>\n<p><span><\/span><\/p>\n<p>KEPCO would also begin exclusive talks with the UAE next<br \/>\nyear on a deal to build four additional nuclear plants to be<br \/>\ncompleted by 2021, he said, aiming to conclude negotiations by<br \/>\nthe end of next year.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;As far as I know, the UAE has not held talks with other<br \/>\ncountries,&#8221; Kim said, referring to the potential deal for four<br \/>\nadditional reactors. &#8220;Our efficiency will increase as we build<br \/>\nthe first four. We will achieve cost competitiveness if the same<br \/>\ntype of reactor is chosen &#8230; we can shorten construction time,<br \/>\nmeaning earlier returns on investment.&#8221;<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;KEPCO has also been in talks with India, Kazakhstan, South<br \/>\nAfrica, Turkey and Vietnam over possible reactor exports,<br \/>\nalthough any deals are unlikely to be signed this year,&#8221; he<br \/>\nsaid.<\/p>\n<p><span><\/span><\/p>\n<p>Oil-exporting UAE awarded the contract for the first four to<br \/>\na consortium of Korean companies led by KEPCO in December 2009.<br \/>\nAt that time, Emirates Nuclear Energy Corp (ENEC) said the KEPCO<br \/>\nteam would design, build and help operate four 1,400-megawatt<br \/>\nnuclear power units, and put the value of the contract for<br \/>\nconstruction, commissioning and fuel loads at about $20 billion.<\/p>\n<p><span><\/span><\/p>\n<p>ENEC said last month that it hoped to start construction on<br \/>\nthe first plant in the fourth quarter, if regulatory approval<br \/>\nwas received by the third quarter.<\/p>\n<p><span><\/span><\/p>\n<p>OVERSEAS ASSETS<br \/>\n\u00a0 <span class=\"label\"><strong>Continued&#8230;<\/strong><\/span><\/p>\n<p><span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Meeyoung Cho SEOUL, April 3 (Reuters) &#8211; Korea Electric Power Corp (KEPCO) said it will begin talks next year with the United Arab Emirates on a new deal for four nuclear power plants, and plans to spend 800 billion won ($706.06 million) this year on overseas resources development including acquisitions. President and Chief Executive [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-9571","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/9571","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=9571"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/9571\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=9571"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=9571"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=9571"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}