[Courtesy of KEPCO]
South Korea's state-run Korea Electric Power Corp. promised to earn 49.4 billion US dollars Thursday from a deal to run nuclear power plants in the United Arab Emirates for 60 years.
The utility company said the deal was signed with Emirates Nuclear Energy Corp. KEPCO would invest $900 million in a company in charge of operating the reactors.
Under a $20 billion contract in 2009, a KEPCO-led consortium has been building four nuclear reactors with a combined capacity of 5,600 megawatts in the Middle Eastern country.
South Korea, which has almost no reserves of fossil fuels on its territory, has actively pushed for a nuclear energy program. The 2009 contract paved the way for South Korea's first exports of home-made reactors.
Aju News Lim Chang-won = cwlim34@ajunews.com
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Park Sae-jin
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