A global consortium led by the state-run Korea Hydro and Nuclear Power Company(KHNP) won a project to refurbish an aging reactor at Romania's Cernavoda nuclear power plant.

According to the energy ministry on Thursday, the consortium comprising the KHNP, Canada's Candu Energy and Italy's Ansaldo Nucleare signed a final agreement on Thursday in Bucharest with Romania's Societatea Nationala Nuclearelectrica.

The order to refurbish the plant's No. 1 reactor, for which a 30-year license is set to expire in 2027, is worth two-point-eight trillion won, or around one-point-nine billion U.S. dollars.

KHNP said the refurbishment of the 700-megawatt reactor will begin in February and is expected to take around 65 months.

The South Korean company, whose share in the project is valued at one-point-two trillion won, will oversee the overall infrastructure construction, including radioactive waste storage facilities.