Skip to content Skip to Search
Skip navigation

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

More than 24 million people visited the World Expo event at Expo City Dubai between October 2021 and March 2022

Construction begins at Expo City Dubai site

Construction has begun on the first residential properties at Expo City Dubai, part of a mixed-use master plan to repurpose the legacy site after the world fair came to a close two years ago. Master developer Expo City Dubai announced last week that it has awarded four key contracts for its Mangrove Residences. UAE-based USF […]

Saudi housing costs rose nearly 9% year on year in May

Saudi housing costs rise but inflation remains steady

Housing costs in Saudi Arabia rose nearly 9 percent year on year in May, but it was not enough to push overall inflation in the kingdom over 2 percent. The latest data from the General Authority for Statistics showed the annual inflation rate in Saudi Arabia was 1.6 percent in May, having remained at this […]

OTB Group has a presence in Dubai with its Maison Margiela store in the Dubai Mall

Chalhoub Group in venture with Italian luxury brand

Luxury distributor Chalhoub Group has entered into a joint venture with Italian fashion conglomerate OTB Group to expand the brand’s footprint in the Gulf. OTB (which stands for Only The Brave) owns the Diesel, Jil Sander, Maison Margiela, Marni and Viktor&Rolf brands, the Staff International and Brave Kid companies, and holds a stake in the […]

Arid conditions brought about by the drought in Morocco are affecting the cost of sheep

Drought pushes up sheep price for Eid in Morocco

The price for a sheep in Morocco for the annual sacrifice at Eid al-Adha has increased on average at 10 times the 2.2 percent rate of inflation. A medium-sized female sheep costs MAD4000 ($400) as opposed to MAD3000 last year. This puts it out of range for many families in the country where a high […]