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S. Korea joins bidding for Kazakh nuke reactor project

All Headlines 18:00 May 30, 2019

SEOUL, May 30 (Yonhap) -- The state-run Korea Hydro & Nuclear Power Co. (KHNP) on Thursday joined the bidding to win a project to build two nuclear reactors in Kazakhstan in its latest step to expand its presence in the world's nuclear power generation market.

KHNP submitted the technical and price offer to Kazakhstan Nuclear Power Plants (KNPP) to win the engineering, procurement and construction (EPC) contract.

Other details on its financial health and technology capabilities were also submitted, according to KHNP.

The move came two months after KHNP sent a letter of intent to KNPP. The Kazakh authority plans to pick the preferred bidder in September, according to the South Korean firm.

KHNP is likely to compete with rivals from the United States, China and Russia and a consortium of French and Japanese companies.

After successfully making inroads into the United Arab Emirates, South Korea has been making efforts to expand its global presence in the world's nuclear power generation sector by setting its sights on other countries, including Saudi Arabia and the Czech Republic.

Kazakhstan has been one of the major suppliers of yellowcake, a type of uranium concentrate powder used in the preparation of uranium fuel for nuclear reactors, to South Korea since 2003.

In April, South Korean President Moon Jae-in and Kazakh President Kassym-Jomart Tokayev shared ideas on potential cooperation in the nuclear energy industry during their summit.

S. Korea joins bidding for Kazakh nuke reactor project - 1


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