UAE nuclear power station … KEPCO "The EDF France contract is only a technician's door"

Entry 2018.11.28 23:21

Nawah, the operator of the United Arab Emirates' nuclear power plant in Barraca, has signed a contract with the French company EDF for the provision of safety services for nuclear power plants.

In this regard, KEPCO (015760)It is stated that the operating rights of the Baraka Nuclear Power Plant, jointly owned with the United Arab Emirates, are being transferred to foreign companies. KEPCO explained: "Me and I signed a contract with EDF, not a reactor technology contract, but a simple additional technical consulting contract in the field of environment and health."

"EDF will provide me with safe operation, radiation protection, fuel cycle management and environmental monitoring for ten years," said EDF, a French company, on the 21st. "We will provide services such as engineering research, field support, training and benchmarking, we will provide expertise in the field. "

In 2009, Doosan Heavy Industries & Construction (034020), Samsung Corporation (028260)Obtained contracts for the construction of the 4th Baraka Nuclear Power Plant. Total construction orders amount to $ 20 billion. Baraka 1 was completed in March and is expected to come into operation later this year, but has been postponed.

KEPCO pointed out that the operating rights contracts of the Baraka Nuclear Power Plant are two contracts between KEPCO and KHNP in 2016.

KEPCO announced in October 2016 that it has signed an investment agreement with Emirate Nuclear Power Corporation (ENEC) in the United Arab Emirates in Abu Dhabi for the project to operate the UAE nuclear power plant, thus ensuring operating rights of the UAE nuclear power plant. The contract, which was signed at the time, will operate the 5600 MW capacity Baraka nuclear power plant in the United Arab Emirates for the next 60 years, under construction by KEPCO.

KEPCO is expected to generate a total business turnover of $ 49.4 billion (approximately W 54 trillion) through its operations. KEPCO has invested US $ 900 million (about W 990 billion) to secure some equity in the company. ENEC held 82% of the capital and KEPCO 18%.

In July of the same year, KHNP, a subsidiary of KEPCO, signed an Assistance Service Agreement (OSSA) with ENEC. The contract amounts to $ 900 million, including $ 320 million for housing, education and other indirect costs. KHNP said at that time: "By 2030, 210 people on average will be deployed, including 3,000 operators and operating staff in total".

KEPCO also explains that some players in the nuclear industry are concerned that South Korea's exclusive exploitation rights over the Baraka nuclear power plant may be out of date.

However, KEPCO explains that this agreement is not related to the operation because I had to consult KEPCO who had invested a stake in order to conclude a contract for the operation of a nuclear power plant. . The fact that KHNP is directly related to the operation of the Baraka nuclear power plant is a contract signed by KHNP and not a contract with EDF.

"During the construction phase of the Baraka nuclear power plant, KEPCO also signed a technical support contract with companies such as the United States and the United Kingdom, which are the main subcontractors of the Baraka nuclear power plant. . " We have also entered into various consulting agreements with foreign companies such as Germany for operational support. "

KEPCO stated that me and I had already concluded similar contracts with the operator of the US Exelon nuclear power plant, this time with EDF. KEPCO said that KHNP was also working on selecting a company to sign a long-term maintenance contract (LTMA) separately from this contract.