A global consortium that includes South Korea's state-run Korea Hydro & Nuclear Power Co. has won a project to refurbish an aging nuclear reactor at Romania's Cernavoda power plant, Seoul's industry ministry said Thursday.

Under the project, worth around 2.8 trillion won ($1.93 billion), KHNP will jointly refurbish Cernavoda's unit 1 reactor with Canada's Candu Energy Inc. and Italy's Ansaldo Nucleare S.p.A., according to the Ministry of Trade, Industry and Energy.

KHNP's share of the project is 1.2 trillion won, the ministry added.

The signing ceremony between the consortium and Societatea Nationala Nuclearelectrica, the European nation's nuclear energy company, took place in Bucharest on Thursday (local time).

Located about 170 kilometers east of the Romanian capital, the unit 1 reactor, with a capacity of 700 megawatts, has operated since 1996, and its 30-year license is set to expire in 2027.

The Romanian government has sought to extend the unit's operation for another 30 years.

KHNP said the refurbishment will begin in February and is expected to take around 65 months.

The South Korean company will handle infrastructure construction, including radioactive waste storage facilities, with four other South Korean firms taking part as partners. They are KEPCO Plant Service & Engineering Co., Doosan Enerbility Co., Hyundai Engineering & Construction Co. and Samsung C&T Corp.

Candu and Ansaldo will take charge of the engineering and procurement work as the original designers of the reactor.

"Through the successful refurbishment of the Cernavoda power plant, KHNP will bolster its presence in the global market," KHNP CEO Hwang Joo-ho said, noting the latest contract was made possible by the company's 50 years of experience in the nuclear plant industry.

The industry ministry noted the project will help diversify the country's export portfolio in the nuclear energy sector.

A South Korean consortium led by KHNP was named the preferred bidder in July to build two nuclear reactors at the Czech Republic's Dukovany power plant, with the final signing scheduled for March next year. (Yonhap)