A consortium led by KEPCO on Sunday won a US$40 billion deal to build and operate four nuclear power plants in the United Arab Emirates. It is the largest ever order won by the country, some six times the cost of a $6.3 billion canal project in Libya in the 1980s.
This is also the first time Korea is exporting its APR1400 light-water reactor since the country started operating its first nuclear power plant, Gori No. 1, with U.S. technology in 1978. With the contract, Korea has turned from an importer into an exporter of nuclear power technology.
President Lee Myung-bak helped clinch the deal in a meeting with his UAE counterpart Khalifa bin Zayed Al Nahyan at the Emirates Palace Hotel Abu Dhabi. The two also agreed to develop the two countries' relationship into a strategic alliance.
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