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Tuesday, November 2, 2010     FOLLOW UPDATES ON TWITTER

Turkey, S. Korea closing in on major reactor deal

ANKARA — Turkey and South Korea have failed to reach agreement on a nuclear energy reactor, but the estimated $1 billion facility, meant for construction in Sinop, was expected to be decided before a G-20 meeting in Seoul on Nov. 7..

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Officials said Ankara and Seoul have been hampered by technical disagreement in efforts to conclude a nuclear reactor deal. They said the dispute concerns such issues as loan guarantees, risk sharing, cost and joint venture.

"There are some unresolved issues between the parties," Turkish Energy Minister Taner Yildiz said.


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Ankara and Seoul have been negotiating for nearly a year in an effort to construct a second nuclear energy reactor in Turkey.

"The contacts between Turkey and a Korean committee have continued for three weeks," Yildiz said on Nov. 1. "But the deal is clear."

Ankara has already reached agreement with Russia for the construction of another 1,000 megawatt reactor in Akuyu. The Russian deal called for the state-owned Atomstroyexport to build and operate the facility in an effort to bolster Turkey's power generation.

"We believe our industry will be boosted with these power plants," Yildiz said.



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