The Czech Republic said Wednesday that the country’s state-controlled power company signed a final contract with South Korea’s Korea Hydro and Nuclear Power(KHNP) to build two nuclear reactors in the country.
According to Reuters, Czech Prime Minister Petr Fiala said Wednesday that the two sides signed the final agreement for the estimated 18 billion dollar deal after a court lifted an injunction earlier in the day that had barred the deal from closing.
KHNP and Elektrárna Dukovany II(EDU II), a subsidiary of the Czech Republic’s main electricity firm, CEZ, reportedly signed the contract electronically.
The signing comes after the Supreme Administrative Court of the Czech Republic canceled the injunction issued last month by a regional court in Brno.
KHNP was scheduled to sign the contract with EDU II in May, but the signing was delayed when the lower court decided it could not go ahead until the court ruled on a complaint from the losing bidder, France’s EDF.