{"id":9591,"date":"2012-04-03T15:48:19","date_gmt":"2012-04-03T13:48:19","guid":{"rendered":"http:\/\/www.myza.co.za\/04\/update-1-kepco-aims-to-double-uae-nuclear-plant-sales\/"},"modified":"2012-04-03T15:48:19","modified_gmt":"2012-04-03T13:48:19","slug":"update-1-kepco-aims-to-double-uae-nuclear-plant-sales","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/update-1-kepco-aims-to-double-uae-nuclear-plant-sales\/","title":{"rendered":"UPDATE 1-KEPCO aims to double UAE nuclear plant sales"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>By Meeyoung Cho<\/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 KEPCO would begin exclusive talks with the<br \/>\nUAE next year to build four nuclear plants to be completed by<br \/>\n2021, in addition to an existing deal for four reactors, aiming<br \/>\nto conclude negotiations by the end of next year.<\/p>\n<p><span><\/span><\/p>\n<p>A KEPCO deal for an additional four nuclear power plants in<br \/>\nthe UAE, taking the total to eight, would cement its reach in<br \/>\nthe Middle East market.<\/p>\n<p><span><\/span><\/p>\n<p>Kim said the state-run utility would start construction on<br \/>\nan initial four nuclear power plants on July 1, advancing the<br \/>\nstart date by four months, pending regulatory approval by June<br \/>\n30, with completion scheduled for 2017-2020.<\/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 prospective deal. &#8220;Our<br \/>\nefficiency will increase as we build the first four; we will<br \/>\nachieve cost competitiveness if the same type of reactor is<br \/>\nchosen &#8230; we can shorten construction time, meaning earlier<br \/>\nreturns 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 four reactors to<br \/>\na consortium of Korean companies led by KEPCO in December 2009.<br \/>\nEmirates Nuclear Energy Corp (ENEC) said at the time that the<br \/>\nKEPCO team would design, build and help operate four<br \/>\n1,400-megawatt nuclear power units, putting the value of<br \/>\nconstruction, commissioning and fuel loads at about $20 billion.<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-9591","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\/9591","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=9591"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/9591\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=9591"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=9591"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=9591"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}