BREAKING NEWS

United Arab Emirates inks deal with South Korea for nuclear plants

Emirates inks deal with

DECEMBER 27, 2009 12:55

The United Arab Emirates' state-run nuclear energy company said on Sunday that a South Korean consortium has won a contract to build the Arab country's first nuclear power reactors. The bid led by Korea Electric Power Corporation beat out proposals from a French team and one led by the US and Japan. Emirates Nuclear Energy Corporation said the deal for four 1,400-megawatt reactors is worth about $20 billion. Washington earlier this year signed an agreement with the UAE for the country to import, rather than produce, fuel for its nuclear reactors.

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