Czech Nuclear Plant Construction Talks Ultimately Collapse; Doosan Group Plunges in the 8% Range, Nuclear Power Favorites Shaken [STOCK NOW]

[Financial News] Shares of related companies are plunging after talks on the construction contract for the Czech Republic’s Dukovany nuclear power plant collapsed.
The move came as concerns grew about disruptions to the nuclear power project after Korea Hydro & Nuclear Power (KHNP) officially announced the end of negotiations with the Daewoo Engineering & Construction–Doosan Enerbility consortium. In particular, Doosan Group and Doosan Enerbility both weakened, dampening optimism about the nuclear power business.
According to the Korea Exchange, at around 10:15 a.m. on the 29th, shares in Doosan Group were trading at 930,000 won, down 83,000 won (8.19%) from the previous trading day.
Doosan Group had closed up 6.41% the previous day but reversed course and fell a day later. Doosan Enerbility was down 10.91% at 54,700 won.
KHNP said it was officially ending negotiations on the construction contract for the Czech Republic’s Dukovany nuclear power plant project, which it had been conducting with the Daewoo Engineering & Construction–Doosan Enerbility consortium.
KHNP said, “This was due to differences between the two sides over key contract terms,” explaining that the parties had gone through working-level talks, a dispute mediation committee, and executive-level negotiations but had failed to reach a final agreement.
The main sticking point in the failed talks was disagreement over key contract terms, including construction costs. With the project expanding from one reactor to two, the two sides reportedly failed to agree on the scale of the increase in construction payments, among other matters.
KHNP plans to begin the process of ending its joint cooperation agreement with the existing contractor and prepare a tender to select a new contractor.
The Czech Republic’s Dukovany project involves building two Korean-designed APR1000 nuclear reactors. Doosan Enerbility has signed contracts to supply reactor equipment and turbine-generator equipment.
The collapse of the construction contract talks does not mean the equipment supply contracts will be automatically canceled, but the project schedule could still be affected as a new contractor is selected and the contracts are reorganized.
The market is watching the upcoming contractor selection process, whether the existing supply contracts will remain in place, and the impact on the overall project schedule. As uncertainty around the nuclear power project grows, shares of related companies are expected to react sensitively to follow-up measures and official announcements.

[email protected] Kang Jung-mo Reporter