Skip to content Skip to Search
Skip navigation

Korea submits proposal to Turkey on $33bn nuclear power project

By Pramod Kumar
Unsplash.com
The scheduled completion of Turkey's first unit and nuclear fuel delivery is set for the first half of 2023

South Korea-based Korea Electric Power Corporation (KEPCO) has submitted a preliminary proposal to Turkey to take part in a project to build four nuclear power plants in the country, Yonhap news agency reported.

KEPCO chief executive Cheong Seung-il met with Turkey’s energy minister, Fatih Donmez, presenting the proposal for the construction of four reactors capable of providing 1,400 megawatts (MW) of electricity in the northern part of the country.

The project is forecast to be worth about 40 trillion won ($32.55 billion). 

“The two sides began discussions on the project in earnest. They will carry out a feasibility test to come up with an optimum way to push for the project,” KEPCO said.

The Korean company’s 10 nuclear reactors, based on the advanced APR1400 technology, have been successfully built and stably managed at home and abroad, including those at the Barakah nuclear power plant in the United Arab Emirates.

According to Turkey’s Daily Sabah newspaper, Ankara has already planned to build the nation’s second nuclear power plant in Sinop. 

Last November, Deputy Energy and Natural Resources Minister Alparslan Bayraktar said Turkey had started negotiations with Russia’s state-owned atomic energy agency Rosatom.

The scheduled completion of the first unit and nuclear fuel delivery is set for the first half of 2023. The remaining three reactors will start operation by the end of 2026 with a total installed capacity of 4,800MW.

Latest articles

Pedestrians cross a road in Sharjah. The emirate is the UAE's 'manufacturing base', according to an official

UAE to open manufacturing centre of excellence in Sharjah

A manufacturing centre of excellence is to be set up in Sharjah, its backers announced on Monday. The UAE Ministry of Industry and Advanced Technology, the Sharjah Entrepreneurship Centre (known as Sheraa), the Sharjah Chamber of Commerce and Industry and Emirates Development Bank (EDB) have signed a memorandum of understanding for the project.  “Hopefully it […]

The Baladna project is intended to produce 1.7 billion litres of milk a year from 270,000 cows

Baladna lines up $3.5bn Algerian dairy venture

Baladna, the largest dairy food producer in Qatar, is exploring plans for a $3.5 billion venture in Algeria that will be based on a herd of more than a quarter of a million dairy cows. The company has signed a framework agreement with the Algerian Ministry of Agriculture and Rural Development to set up what […]

UAE Ukraine cepa Yulia Svyrydenko, Ukraine’s minister of economic development and trade, and Dr Thani bin Ahmed Al Zeyoudi, the UAE’s minister of state for foreign trade, sign the deal between the two countries

UAE prepares for ‘new era’ in Ukraine with trade deal

The UAE has finalised the terms of a trade deal with Ukraine, as the Gulf state looks to become a key player in rebuilding the country once its war with Russia is over. The comprehensive economic partnership agreement (Cepa) aims to build on the $386 million bilateral non-oil trade between the two countries last year. […]

Construction work at Egypt's new administrative capital. Real estate 'is a very strong inflation hedge', says Aldar's Faisal Falaknaz

Aldar’s Egyptian sales unhindered by war and economic risk

Real estate developer Aldar says geopolitical and economic volatility is not affecting its expansion in Egypt. The Abu Dhabi-listed company acquired its Egyptian subsidiary Sodic in December 2021. Since then, sales have risen by more than 50 percent on a dollar-basis, Faisal Falaknaz, Aldar’s chief finance and sustainability officer, told reporters on Monday.  “What has […]