A Project to Build 4 APR1400 Nuclear Power Plants
Korea Electric Power Corp. (KEPCO) is discussing cooperation in nuclear power plant construction with Turkey.
The two sides are promoting the construction of four Korean-type APR1400 nuclear power plants in the northern region of Turkey, KEPCO said on Nov. 14.
The project cost is expected to exceed that of the Barakah Nuclear Power Plant in the United Arab Emirates (about 20 trillion won).
The two sides plan to jointly conduct a feasibility study for this project in 2023. They will sign an MOU later if they agree on the environmental, technical and financing aspects of the project. Then, the governments of the two countries will sign an intergovernmental agreement (IGA) in 2024. If both sides reach this stage, KEPCO will virtually secure the status of the preferred bidder.
The Turkey government had negotiated with Japan’s Mitsubishi Heavy Industries for the project since 2013, but negotiations broke down when Mitsubishi quoted a price twice the initially estimated construction cost in 2020.