Hyundai Engineering group wins nuclear deals

A group led by Hyundai Engineering & Construction Co won a 1.09 trillion won (Dh3.52 billion) order to build two nuclear reactors from South Korea's state-run Korea Hydro & Nuclear Power Co. The APR1400 reactor is the same model a Korea Electric-led group will build in the UAE. The group won the $20bn (Dh73.4bn) order in December, beating Areva SA and General Electric.

Hyundai Engineering will take a 45 per cent stake, while SK Engineering & Construction will take 30 per cent and GS Engineering & Construction 25 per cent, the unit of Korea Electric Power said yesterday.

South Korea, which imports almost all of its oil, plans to add 12 nuclear power plants to 20 existing units by 2022 as part of efforts to cut greenhouse gas emissions and reduce dependence on crude.


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