The French and US-led teams bidding for the UAE’s nuclear power project have today submitted their revised prices for the estimated $40bn contract.

It is the third time the groups have proposed a new price since they submitted their original bids in early July. They submitted their previous revisions to Abu Dhabi-based Emirates Nuclear Energy Corporation in September and October.

Abu Dhabi has asked the two groups to lower their prices to bring them closer to the lowest bid, which was submitted by a team of Korea Electric Power Corporation, Hyundai Engineering & Construction and Samsung Corporation.

The French team comprises EDF, GdF Suez and Total. Areva will supply the group’s nuclear reactors, Alstom is the conventional power contractor and Vinci is the civil works contractor.

The third team is the US’ GE and Japan’s Hitachi.