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Nuclear power plant

Korea to join Egypt’s 1st nuclear power plant project

Hyundai E&C, Doosan Heavy and KEPCO E&C may participate in the project

By Jan 03, 2022 (Gmt+09:00)

Location of El-Dabaa nuclear power plant in Egypt (Courtesy of KHNP)
Location of El-Dabaa nuclear power plant in Egypt (Courtesy of KHNP)

South Korea is set to participate in Egypt’s first nuclear power plant project built by Russia as a state-run Korea Hydro & Nuclear Power Co. (KHNP) has been selected for exclusive talks on a deal to construct facilities such as turbine buildings.

Egypt aims to build the El-Dabaa nuclear power plant with four reactors of a total capacity of 4.8 gigawatts. The construction is scheduled to start this year with a target of commercial operation of the No. 1 reactor in 2028, KHNP said on Jan. 2.

JSC ASE, a subsidiary of Russia’s state-owned nuclear power company Rosatom, won the power plant deal from Egypt’s Nuclear Power Plants Authority in 2017. JSC ASE will work on the main facilities for power generation, while KHNP will construct others including turbine islands.

KHNP and JSC ASE are scheduled to sign a formal contract in April after concluding negotiations on details for the deal such as construction costs by end-February. The subsidiary of Korea Electric Power Corp. will be responsible for procurement and construction.

The deal is expected to help other South Korean companies such as Hyundai Engineering & Construction, Doosan Heavy Industries & Construction Co. and KEPCO Engineering & Construction Co. participate in the project. They formed a consortium in March last year for parts of the project.

KHNP plans to expand its business network in the Middle East with the deal.

“The El-Dabaa plant is Egypt’s first nuclear power project, in which neighboring countries are highly interested,” said a KHNP source said. “We will pave the way to win more orders through cooperation with local Egypt companies.”

Write to Eui-Jin Jeong at justin@hankyung.com

Jongwoo Cheon edited this article.
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