Turkey Nuclear Power Plant

Turkey is still studying which partner to select in building the nuclear power plant along its Black Sea coast, a Seoul government source said Friday.

South Korea is competing with Japan for the multi-billion dollar power-generating nuclear reactor project Turkey is pushing.

Turkey is now in talks with Japan for the project after its earlier negotiations with South Korea apparently failed to make a breakthrough.

One source at South Korea’s Ministry of Knowledge Economy said that despite a Japanese media report claiming negotiations between Seoul and Ankara collapsed, nothing concrete is expected to be reached until the end of December.

The official who declined to be identified said it is impossible to know at present which country will win Turkey’s Sinop power plant project.

“We had laid down our offer on the table and are currently waiting for a reply,” he said, disclosing Turkey talked to Japan to see if a better arrangement can be reached and to weigh its options.

Japan’s Nihon Keizai Shimbun daily reported earlier in the day that Japan and Turkey may reach in March a decision on building the Sinop nuclear power plant and claimed both sides effectively reached a broad agreement.

It also claimed the two sides are currently working out details of the prospective deal.

In an interview with Yonhap News Agency earlier this week, Knowledge Economy Minister Choi Kyung-hwan said Turkey may try to conclude talks with Tokyo by the end of the year after negotiations with Seoul were put on hold due to disagreement over how to recoup initial investment costs.

“South Korea’s position has been that key conditions must be right for a deal to take place and that the government will not try to win the bid for the sake of securing another nuclear export deal,” the senior policymaker stressed.

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