Agreement Reached With S. Korea On Patnow Nuclear Power Plant Project

Polish and South Korean firms have agreed to work together to develop plans to build a nuclear power plant in central Poland, reports the Yonhap news agency (Seoul).

On Monday in Seoul, the state-owned Korea Hydro & Nuclear Power (KNHP) signed a memorandum of understanding with the state-run Polish Energy Group (PGE) and Polish private energy group ZE PAK to work together on a development plan to build a nuclear power plant in Patnow, about 150 miles (240 km) west of Warsaw.

Under the proposal, the plant would employ the South Korean APR1400 technology, which offers larger capacity, longer lifespan and is cost-effective, according to the South Korean firms.

The companies involved are working to complete a preliminary development plan by the end of the year.

A feasibility study for the project is expected to take about a year. If finalized, the deal is expected to be worth at least US$7 billion.