South Korea Pulls Out Of Lithuania Nuclear Project

South Korea Pulls Out Of Lithuania Nuclear Project
dj
Παρ, 3 Δεκεμβρίου 2010 - 17:08
A four-nation nuclear power plant project in Lithuania was thrown into doubt Friday, as the government said a South Korean bidder has pulled out and another was rejected.
A four-nation nuclear power plant project in Lithuania was thrown into doubt Friday, as the government said a South Korean bidder has pulled out and another was rejected.

Lithuanian Deputy Energy Minister Romas Svedas told reporters that South Korea's state energy firm Korea Electric Power Corp. (KEP) has withdrawn from the race.

Svedas said Lithuania is "surprised" by KEPCO's move.

KEPCO made public Nov. 17 the fact that it was bidding to build the plant, meant to replace a Soviet-era facility that was shut down at the end of 2009 under the terms of Lithuania's admission to the European Union.

Lithuania tried and failed to convince the EU to let it keep the plant open until the replacement, being built along with neighbors Latvia, Estonia and Poland, was ready.

One other bidder was in the race, but the name was never revealed. Svedas said the Lithuanian authorities decided that its bid wasn't sufficient and turned it down.

The failure of the tender doesn't mean the demise of the power plant plan, Svedas said.

"We will continue with the development of the project," he said.

The former plant, near Ignalina in northeast Lithuania, provided the bulk of the power for this former Soviet-ruled republic of 3.3 million.

It was similar to the one that exploded at Chernobyl in then-Soviet Ukraine in 1986, the world's worst nuclear accident. Its closure was part of the deal allowing Lithuania to join the EU in 2004.

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