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S. Korea Shortlisted for Saudi Arabia’s Nuclear Power Plant Project
Just One of the Five
S. Korea Shortlisted for Saudi Arabia’s Nuclear Power Plant Project
  • By Jung Suk-yee
  • July 2, 2018, 12:00
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On October 26 last year, Minister of Trade, Industry & Energy Baek Woon-kyu (left) shakes hands with his counterpart Adel bin Muhammad Fakeih (right) at “Korea-Saudi Arabia 2030 Business Forum held in Seoul.
In this file photo, Minister of Trade, Industry & Energy Baek Woon-kyu (left) shakes hands with his counterpart Adel bin Muhammad Fakeih (right) at “Korea-Saudi Arabia 2030 Business Forum" held in Seoul on October 26, 2017.

South Korea has been included in the list of the possible candidates for a nuclear power plant construction project in Saudi Arabia. A fierce bidding war is anticipated among the five shortlisted countries, including the United States, China, France and Russia.

The Ministry of Trade, Industry & Energy announced on July 1 that the Korea Electric Power Corporation (KEPCO) has been selected as a possible candidate for the project by the King Abdullah City for Atomic & Renewable Energy (K.A.CARE). In the project, two nuclear power plants are built by 2030, each with a capacity of 2.8 GW.

Earlier, the K.A.CARE was predicted to select two or three candidates for the project. The organization, however, included five in its list, and experts point out that Saudi Arabia intends to get the upper hand in the negotiations by letting as many countries as possible compete until the final stage. “It seems that Saudi Arabia is attempting to maximize its leverage,” the ministry explained, adding, “We will keep a close eye on the bidding process with regard to how the others move during the process.”
 

The ministry holds a meeting on July 2 to discuss how to clinch the project with Korea Hydro & Nuclear Power, Doosan Heavy Industries, etc. Minister Paik Un-gyu, who is scheduled to preside over the meeting, is going to announce at the meeting that the South Korean government will do its utmost to win the project.