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The deal was signed on 27 December 2009 between a consortium led by the Korea Electric Power Corporation (Kepco) and the Emirates Nuclear Energy Corporation (ENEC).
The South Korean government said the project is the largest foreign order the country has ever won.
The South Korean consortium comprises Kepco, Hyundai Engineering and Construction, Samsung C&T, Doosan Heavy Engineering, and Westinghouse Electric, a US-based unit of Toshiba Corporation of Japan.
The consortium won the deal over the French nuclear group Areva and a consortium of General Electric of the US and Hitachi of Japan.
According to the deal, the South Korean consortium will build four 1,400-megawatt nuclear reactors in the UAE by 2020.
A statement from South Korea’s president Lee Myung-bak said reasons for the successful bid were 30 years of experience in the field by South Korean companies, price competitiveness, and a relatively quick construction period.
Earlier this month the UAE government formed ENEC to run its nuclear energy programme.
Mohammed Al-Hammadi, ENEC’s chief executive officer, said the UAE had completed a comprehensive assessment of all available methods for the production of electricity, and reached the conclusion that nuclear energy is an effective option.
Mr Al-Hammadi said the four nuclear units planned for the UAE will provide 25 percent of the country’s electricity demand by 2020.
>>Related reports in the NucNet database (available to subscribers)
UAE Forms Company To Run New Nuclear Programme (News in Brief No. 169, 24 December 2009)
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