The Czech Republic’s main electricity firm, CEZ, says it will appeal a local court decision that put a hold on a nuclear reactor construction deal with the Korea Hydro and Nuclear Power or KHNP.
According to Reuters on Wednesday, Daniel Beneš, CEO and chairman of the Board of Directors at CEZ Group, told reporters that his company will continue the construction project with the South Korean company.
Benes also added that his company will seek compensation for the delay caused by the injunction requested by the losing bidder, France’s EDF.
The Czech Republic’s Brno Regional Court issued the preemptive ruling Tuesday, a day before KHNP was scheduled to sign the contract with Elektrárna Dukovany II, a subsidiary of CEZ, in Prague.
KHNP won the contract worth about 19 billion U.S. dollars in July last year after beating EDF in the tender, but EDF filed a complaint last week against the Czech Office for the Protection of Competition after the regulator rejected its appeal in the case.