United Arab Emirates, in a highly competitive bidding process, has awarded its landmark nuclear power project to a Korean-led consortium on Sunday, which is aimed to build four nuclear reactors in UAE for ensuring its long term energy security.
A Korean consortium led by Korea Electric Power Corp (Kepco) watched stiff competition from Asian, French and US bidders for marking the first ever international deal in Asia with the help of Samsung and Hyundai business groups and Toshiba Corp’s unit Westinghouse Electric Co.