S Korea signs $2.25b deal with Russian nuclear company

South Korea has signed a 3 trillion won ($2.25 billion) deal with a Russian state-run nuclear energy company to provide components for Egypt’s first nuclear power plant.

South Korea’s government said Thursday the contract between the state-run Korea Hydro and Nuclear Power and ASE requires the South Koreans to provide turbine-related equipment and construction work for the plant being built in Dabaa, about 130 kilometers (80 miles) northwest of Cairo on the Mediterranean coast.

ASE is a subsidiary of Rosatom, a state-owned Russian nuclear conglomerate.

A senior aide of South Korean President Yoon Suk Yeol said the negotiations were slowed by “unexpected variables,” mainly Russia’s war on Ukraine and the US-led sanctions campaign against Moscow over its aggression.