South Korean-led consortium to bid for Saudi nuclear project

State-run Korea Electric Power Corp. (Kepco)— leading a consortium with its subsidiary, the Korea Hydro & Nuclear Power Co.— will bid for Saudi Arabia’s first nuclear project.

Other countries shortlisted to bid for the mega contract are the United States, France, Russia, and China, Yonhap News Agency reported, citing Seoul's energy ministry.

The Kingdom plans to build two nuclear reactors with a total generating capacity of up to 2.8 gigawatts by 2030 and is expected to finalize the deal next year, the Korean ministry said.

Saudi Arabia is considering building 17.6 gigawatts of nuclear capacity by 2032, the equivalent of about 17 reactors.