Korea and Vietnam will start a one-year feasibility study as early as next month for the construction of a Korean-developed nuclear power plant.
Upon completion of the study and approval from the Vietnamese parliament, an official deal will be signed.
This is a consequence of the pact signed between South Korean President Lee Myung-bak and Vietnamese Prime Minister Nguyen Tan Dung for additional cooperation to develop nuclear power plants in Vietnam for peaceful purposes.
The pact signed named Korea as the preferred bidder to build a nuclear power plant in Vietnam worth US$20 billion.
This was announced by Korea's Ministry of Knowledge Economy.
Vietnam plans to build 10 nuclear power plants with 1 million kW capacity by 2030. Russia won the order for the first two plants and is close to breaking ground, while Japan is carrying out feasibility studies for the third and fourth plants. With the latest agreement, Korea seems to stand a good chance to win the bid for the remaining four. Vietnam plans to place additional orders by 2015.
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