Dignitaries, including Minister Paik Un-gyu of the Ministry of Trade, Industry and Energy (MOTIE), KEPCO President Kim Jong-gap and President Chung Jae-hoon of Korea Hydro & Nuclear Power (KHNP), attend a ceremony to open an office of providing support to Korea’s bid to win a project to build a nuclear power plant in Saudi Arabia on July 2. (Photos: MOTIE)

Korea Electric Power Corp. (KEPCO) has made it onto the list of contenders who will vie for a project to build two 1400MW-class nuclear power units in Saudi Arabia. Korea has been shortlisted to participate in a bid for the project with the United States, China, Russia and France. The nation is expected to stage a harder uphill battle than expected.
The Ministry of Trade, Industry and Energy (MOTIE) said it was informed by King Abdullah City for Atomic and Renewable Energy that KEPCO was chosen as contenders of the nuclear power project on July 1. The winner of the project is expected to be chosen next year.
Saudi Arabia plans to build a combined 16 nuclear power units for the next 20 years to 25 years. The aggregate cost will stand at 100 trillion won. Chances are good that the country that wins the first project will also walk away with following projects.
Minister Paik Un-gyu of the MOTIE convened a strategic government-private sector meeting designed to export nuclear power units with officials from KEPCO, Korea Hydro & Nuclear Power (KHNP), Doosan Heavy Industries & Construction and other related companies and discussed ways of winning the project.
Minster Kim said the selection of five countries as bidders for the tender exceeded expectations that three countries would be shortlisted. Earlier in March, he talked about the forging of an alliance, including promoting cooperation with the United States.
The APR 1400, a 3G reactor developed by Korea on its own, has gained global recognition with safety and economical feasibility. A consortium, led by KEPCO has been credited with the constructing the Barakah Nuclear Power Plant in the United Arab Emirate in time and on budget.
One problem is the Korean government’s policy of weaning the nation off nuclear power. The government proactively supports the nation’s export of nuclear power units, but its steps to annul new nuclear power projects are feared to disrupt the ecosystem of the Korean nuclear power industry, disrupting technological development and parts supply.
Korea’s rival countries are believed to come up with diplomatic and political appeasement policies to woo Saudi Arabia. Westinghouse of the United States, now in bankruptcy, finds it not easy to raise funds. But the U.S. President Trump administration, wanting to rebuild the moribund nuclear power industry, reportedly is considering granting Saudi Arabia, which is desperate to develop a nuclear arsenal to deter Iran aggression, support to enrich uranium. Russia has failed to manage to dispel misgivings over nuclear safety, and Russia is suspected of supporting Iran’s nuclear development, but Russia has reportedly suggested a proposal to transfer uranium enrichment technologies and treating spent nuclear fuel. China has no experience building nuclear power units abroad, but the country is touting its price competiveness and support to diverse for infrastructure projects. France has been in a slump since building a nuclear power plant in Finland, but that country is bidding for the project with abundant construction experience and technology.
KEPCO Outbids China to be Preferred Bidder for U.K. Nuclear Power Project
Despite new Korean government’s policy of weaning country off nuclear power, KEPCO walked away with the bid because of technology prowess. Korea Electric Power Corp. (KEPCO) was selected as the preferred bidder to acquire a British government project to build the Moorside Nuclear Power Station from Toshiba.
The NuGen project by NuGeneration, which is the British subsidiary of Toshiba-owned Westinghouse Electric Company, calls for the construction of three nuclear power units with a combined capacity of 3.8GW at the Moorside site on the coast of Cumbria, northwest England, by 2020.
KEPCO outbid China General Nuclear Power Corp. (CGN) in a bid to acquire the project, wholly owned by Toshiba.
Despite the new Korean government’s policy of weaning Korea off nuclear power, KEPCO’s technology overpowered China’s drive to strengthen its presence in the global power industry. KEPCO plans to employ the homegrown APR 1400 reactor model, similar to the nuclear power units being built in the United Arab Emirates by the Korean utilities company, while building the Moorside Nuclear Power Station.