Power plants will be ready for delivery to Kepco by May 2020
Staff Report
Published: 00:00 March 30, 2010
Abu Dhabi: A $5.59-billion (Dh20.6 billion) contract has been awarded to Hyundai Engineering and Construction and Samsung C&T for the construction of the UAE's first nuclear power plants.
In a filing published on the Korea Stock Exchange website, Hyundai said it was awarded 55 per cent of the contract with the remainder going to Samsung. The contract was awarded by the Korea Electric Power Company (Kepco), the winner of the UAE's $20.4-billion contract announced in December.
According to the statement, the power plants will be ready for delivery to Kepco by May 2020. The UAE has said it intends to build four plants by the end of the decade, with the first entering service by 2017. Earlier this month, an Emirates Nuclear Energy Corporation (Enec) spokesman told Gulf News the four plants will be constructed on one site. Mohammad Al Hammadi, Chief Executive of Enec, had said his organisation is considering ten locations for the plants.
55% of the contract awarded to Hyundai
$20.4b contract awarded to Kepco
Source: http://gulfnews.com/business/general/nuclear-hyundai-samsung-awarded-5-59b-uae-nuclear-contract-1.605163
Staff Report
Published: 00:00 March 30, 2010
Abu Dhabi: A $5.59-billion (Dh20.6 billion) contract has been awarded to Hyundai Engineering and Construction and Samsung C&T for the construction of the UAE's first nuclear power plants.
In a filing published on the Korea Stock Exchange website, Hyundai said it was awarded 55 per cent of the contract with the remainder going to Samsung. The contract was awarded by the Korea Electric Power Company (Kepco), the winner of the UAE's $20.4-billion contract announced in December.
According to the statement, the power plants will be ready for delivery to Kepco by May 2020. The UAE has said it intends to build four plants by the end of the decade, with the first entering service by 2017. Earlier this month, an Emirates Nuclear Energy Corporation (Enec) spokesman told Gulf News the four plants will be constructed on one site. Mohammad Al Hammadi, Chief Executive of Enec, had said his organisation is considering ten locations for the plants.
55% of the contract awarded to Hyundai
$20.4b contract awarded to Kepco
Source: http://gulfnews.com/business/general/nuclear-hyundai-samsung-awarded-5-59b-uae-nuclear-contract-1.605163
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