Doosan signs $4 bil. deal with UAE

Doosan Heavy Industries and Construction announced Thursday that it has signed a 4.7 trillion won ($4 billion) deal with the Korea Electric Power Corporation (KEPCO) to provide a nuclear reactor to the United Arab Emirates (UAE).

A Korean consortium, led by the KEPCO, won the deal worth $20 billion last December, and the nation's No. 1 power equipment maker will design, build and operate four 1,400-megawatt reactors by 2020 in the UAE.

"We will contribute to the export of more Korean-built reactors after completing the first global project in cooperation with KEPCO," said Park Gee-won, the president and CEO of the company.