Korea Electric Power Corporation (KEPCO) has announced that South Korea has signed an MOU with Arab Contractors, the number one builders in Egypt’s construction industry, for the exporting of Korean nuclear power plant to Egypt.
The Egyptian government plans to give public notice of an international bid for building a second new nuclear power plant at El-Dabaa early 2015. The MOU with the Arab Contractors therefore gives KEPCO a competitive advantage over other nations in the Egyptian nuclear plant market.
Korea Electric Power Corporation (KEPCO), Korea Hydro & Nuclear Power, Doosan Heavy Industries & Construction, Hyundai Engineering & Construction and Daelin Building were in Cairo at an event dubbed “Korean Nuclear Industry Roadshow” organized by KEPCO on November 5th and 6th. The event was aimed at promoting Korean nuclear power plants in Egypt.
“Based on the excellent capacity of the Korean nuclear power plant business, we will satisfy major Egyptian workforce and localization to successfully adopt the first nuclear plant” said Lee Hee-Yong, chief of KEPCO nuclear plant export division.
The country has recently entered a US$350 million worth deal with Saudi Arabia for the latter to upgrade the former’s power grid and secure imports of petroleum products.