The ministry said the amendment had been made in response to a request from Saudi Arabia that Korea Hydro & Nuclear Power (KHNP) participates in the project as the company’s experience in the construction and operation of power reactors would reduce risks in the construction of the first SMART unit.
Under the revised pre-project engineering (PPE) contract, before the launch of the joint venture – named SMART EPC – KHNP will lead projects to refine the reactor design, license its use for deployment in Saudi Arabia and develop business models and infrastructure, as well as promote the export of the technology to other countries.
