Seoul:South Korea will initiate an emergency management system to maintain progress on its nuclear power plant project in the Czech Republic after contract negotiations with a construction consortium broke down, the industry ministry announced.
According to Yonhap News Agency, the Ministry of Trade, Industry and Resources plans to develop measures to ensure the continuity of the Czech project and prevent similar issues in the future. This decision follows the conclusion of negotiations last week between Korea Hydro and Nuclear Power Co. (KHNP) and a South Korean consortium, including Daewoo Engineering and Construction Co. and Doosan Enerbility Co., regarding the Dukovany nuclear power plant project.
The ministry is scheduled to hold its initial meeting to discuss subsequent actions. KHNP indicated that it would officially conclude the negotiations and start preparing for a new tender to select a construction contractor, aiming to finalize a contract with a new consortium by July 2027 and commence construction by November of that year.
Industry Minister Kim Jung-kwan stated that both he and the vice minister would personally review key project issues weekly and implement necessary measures. The Dukovany project, valued at approximately 25 trillion won (US$17.5 billion), involves building two 1,000-megawatt APR1000 reactors, a model designed in South Korea, in the Czech Republic. A South Korean consortium led by KHNP secured the project last year and subsequently entered into negotiations with the Daewoo-Doosan consortium designated as the construction contractor.