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KEPCO holds nuclear energy roadshow in Saudi Arabia

All Headlines 15:21 October 18, 2018

SEOUL, Oct. 18 (Yonhap) -- The state-run Korea Electric Power Corp. (KEPCO) said Thursday it has held a nuclear energy roadshow in Saudi Arabia to boost its chances of winning a nuclear project in the Middle Eastern nation.

KEPCO said it has held nuclear energy forums, business meetings and exhibitions in Riyadh, Saudi Arabia's capital, and Dammam on the Arabian Gulf on Wednesday and Thursday.

During the event, senior officials from KEPCO and Korean construction companies promoted the APR1400, an advanced pressurized water nuclear reactor with a capacity of 1,400 megawatts designed with local technology.

In July, KEPCO was shortlisted to bid for Saudi's first nuclear project, along with rivals from the United States, France, Russia and China.

The lucrative deal is the second chance for South Korea to tap into the Middle East market, following a US$20 billion contract with the UAE in 2009.

The kingdom plans to build two nuclear reactors with a total generating capacity of up to 2.8 gigawatts by 2030 and is expected to pick a winner next year, according to local reports.

Saudi Arabia currently uses about 25 percent of its oil production domestically, but it aims to reduce the domestic consumption of crude oil and increase investment in nuclear and renewable energy.

Seoul has sought ways to build nuclear power plants abroad as it plans to shift from coal and nuclear power to renewable energy under President Moon Jae-in's energy roadmap.

Kim Jong-gap, CEO of the state-run Korea Electric Power Corp., answers questions during a parliamentary audit held at the National Assembly on Oct. 16, 2018. (Yonhap)


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