Dubai, December 27: The UAE has signed a whopping USD 20.4 billion contract with a South Korea-led consortium for the supply of four nuclear power plants to the country, officials said today.
The deal marks South Korea’s first nuclear plant exports. The USD 20 billion deal with Emirates entails for construction of four 1,400-megawatt light water nuclear reactors by 2020 in Sila, west of Abu Dhabi.
South Korea’s presidential office said the plant export could generate an additional USD 20 billion in ancillary contracts for firms of the country.
South Korea’s Yonhap news agency said the contract was signed by a consortium led by state-run Korea Electric Power Corp and Emirates Nuclear Energy Corp shortly after a meeting between South Korean President Lee Myung Bak and his UAE counterpart Khalifa bin Zayed Al Nahyan.
–Agencies