South Korea signs $2.25 billion deal with Russian nuclear company

South Korea signs .25 billion deal with Russian nuclear company


South Korea, Russian nuclear company, South Korea Russia deal
Image Source : AP South Korea has signed a 3 trillion won ($2.25 billion) deal with a Russian state-run nuclear energy company to provide components for Egypt’s first nuclear power plant.

South Korea has signed a 3 trillion won ($2.25 billion) deal with a Russian state-run nuclear energy company to provide components for Egypt’s first nuclear power plant. South Korea’s government said Thursday the contract between the state-run Korea Hydro and Nuclear Power and ASE requires the South Koreans to provide turbine-related equipment and construction work for the plant that is being built in Dabaa, about 130 kilometers (80 miles) northwest of Cairo on the Mediterranean coast.

ASE is a subsidiary of Rosatom, a state-owned Russian nuclear conglomerate. A senior aide of South Korean President Yoon Suk Yeol said the negotiations were slowed by “unexpected variables,” mainly Russia’s war on Ukraine and the U.S. -led sanctions campaign against Moscow over its aggression.

Also Read | Russia-Ukraine war: Six months into war, Russian goods still flowing to US

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Author: Shirley