Prague: A Czech court has canceled an injunction that banned the signing of a multibillion-dollar nuclear power plant contract with South Korea, removing a significant obstacle in the finalization of the agreement between the two parties, the Korean company overseeing the project announced.
According to Yonhap News Agency, the Korea Hydro and Nuclear Power Co. (KHNP) verified reports that the Czech Supreme Administrative Court had overturned the injunction. This injunction had previously stopped the European nation's Elektrarna Dukovany II (EDU II), the project authority, and the South Korean consortium led by KHNP from signing the final contract to construct two new nuclear power units at the Dukovany nuclear power plant.
The court's decision followed an appeal by EDU II last month against a local court ruling that temporarily suspended the completion of the estimated 26 trillion-won (US$18.6 billion) deal. This suspension was requested by French energy company EDF, which had been an unsuccessful bidder in the tender process.
KHNP had initially intended to finalize the agreement with EDU II on May 7 for the construction of two 1,063-megawatt reactors at the Czech power plant, situated approximately 170 kilometers southeast of Prague.
Should the agreement be concluded, it would signify South Korea's first overseas nuclear power plant deal since 2009, when the nation secured a contract to build the Barakah nuclear power plant in the United Arab Emirates.
"KHNP welcomes the Czech supreme court's decision to reverse the injunction and looks forward to swiftly signing a final contract with Prague," the Korean company stated.