Korea Hydro & Nuclear Power announced Thursday that it had signed a deal to build two nuclear reactors in the Czech Republic, worth at least $18 billion.

Czech Republic’s state-controlled entity EDU II has signed a $18bn contract with South Korea's KHNP for the construction of two new 1,000MW nuclear reactors after a high court lifted an injunction. The move seeks to expand the country's nuclear energy capabilities.

Korea Hydro & Nuclear Power is preparing to sign subcontract agreements and establish a project office at Dukovany after the signing of the contract to build two APR-1000 units at a project cost of CZK407 billion (USD18.