KHNP ends talks with consortium on Czech nuclear plant construction contract

Korea Hydro & Nuclear Power Co. (KHNP), Korea's state-run nuclear power operator, said Thursday it has ended negotiations with a local consortium on a construction contract for a nuclear power plant project in the Czech Republic after the two sides failed to agree on key terms. "The company has decided to terminate negotiations with a consortium comprising Daewoo Engineering & Construction and Doosan Enerbility for the Dukovany nuclear power plant project. The breakdown is due to differences over key contract terms," KHNP said in a press release. KHNP said it will formally conclude the negotiations and begin preparations for a tender to select a new contractor. The Dukovany project, valued at about 25 trillion won ($17.5 billion), involves the construction of two 1,000-megawatt APR1000 reactors, a Korean-designed model, in the Czech Republic. A Korean consortium led by KHNP won the project last year. KHNP subsequently negotiated a construction contract with the Daewoo-Doosan consortium, which had been designated as the construction contractor. "The end of the negotiations does not mean th