S. Korea’s energy minister to visit UAE for nuclear project
SEOUL, (MILLAT ONLINE):The South Korean energy minister will head to the United Arab Emirates (UAE) this week to discuss ways to step up nuclear cooperation and successfully wrap up construction of the Middle Eastern nation’s first nuclear power plant, his office said Thursday.
Paik Un-gyu, minister of trade, industry and energy, will depart for the UAE on Friday to meet with Khaldoon Khalifa Al Mubarak, chairman of the Executive Affairs Authority of Abu Dhabi, and other senior officials.
On the second day of his four-day visit, Paik will visit the construction site of the Barakah nuclear power plant, where four Korea Electric Power Corp. reactors are being constructed under a US$20 billion deal signed in 2009.
One reactor is set to open in the first half of this year, while the other reactors are due to go online by 2020. The combined output of 5,600 megawatt at the power plant will supply up to 25 percent of UAE’s electricity needs, according to the World Nuclear Association.
The visit comes at a time when South Korea is eyeing a bid for Saudi Arabia’s first nuclear project, seeking a second chance to tap into the Middle East market.
Saudi Arabia, the world’s largest crude oil exporter, has received offers from five nations, including South Korea, to build two nuclear reactors as part of its broader plan to expand its proportion of non-fossil based energy.
The kingdom is expected to shortlist two or three preferred bidders by April and plans to select a winner by the end of this year, according to local reports.