PARIS, April 30 (Reuters) - The stakes are high for

France's nuclear power operator EDF, as it waits for the results

of a tender to build up to four new reactors in the Czech

Republic.

The French state-owned company said on Tuesday that it had

submitted an updated bid for the project and expects a decision

from Czech utility CEZ this year.

WHY IS THIS PROJECT IMPORTANT FOR EDF?

If it wins, it would be the company's first overseas

contract since it landed the Hinkley Point project in Britain in

2016, marking a major vote of confidence in the company.

At home, EDF has yet to complete its first EPR (European

Pressurized Reactor) at Flamanville after a delay of 12 years

and faces scepticism about its ability to execute plans for

another six new reactors in the country.

"Everyone has an eye on Prague's decision," Vakis Ramany,

EDF senior vice president in charge of international new nuclear

development, said ahead of the bid submission.

WHY IS THE CZECH CONTRACT IMPORTANT FOR EUROPE?

A win is not just critical to the company but also to its

strategy to lower costs and increase the efficiency of other

nuclear reactors planned in France and across Europe.

Europe's leading nuclear power-plant builder aims to deliver

one or two reactors a year on the continent from the 2030s, a

pace not seen since France commissioned its fleet of nuclear

stations in the 1980s and 1990s.

"This is the pace necessary for us to continue to

consistently improve our performance from one project to the

next, so that synergies can be maximised," said Ramany.

EDF is pushing for a major revival of nuclear power in

Europe, which it says is essential to cut carbon emissions and

strengthen energy security.

WHO ELSE IS BIDDING?

EDF is up against tough competition from Korea Hydro &

Nuclear Power (KHNP), a subsidiary of Korean conglomerate KEPCO.

The Korean company beat EDF 15 years ago on a bid to build

four reactors in the United Arab Emirates, after the French

company entered the process late and with higher costs.

KHNP's bid likely has much lower costs, say industry

participants.

The cost of a single EDF reactor is around 10 billion euros

($10.73 billion), according to French newspaper Les Echos.

EDF declined to comment on the estimate, as well as costs in

its proposal. KHNP also declined to comment on costs.

The bill for EDF's Flamanville EPR is now at 13.2 billion

euros ($14.14 billion), while the two Hinkley Point reactors are

expected to cost up to 35 billion pounds ($43.93 billion) based

on 2015 values.

U.S. company Westinghouse has withdrawn from the

tender.

WHAT ARE EDF'S CHANCES OF SUCCESS?

EDF should benefit from its proximity to the Czech Republic,

and its proposal to involve Czech industry in the project, said

Marc-Antoine Eyl-Mazzega, director of the Energy and Climate

Center at the French Institute of International Relations.

However, EDF has never built an EPR1200, a simplified

version of its classic EPR that it is proposing for the Czech

tender, and still needs certification for the new model.

"It must pass this absolutely crucial stage so that the

Czech authorities are convinced and have full confidence," said

Eyl-Mazzega.

There are also still questions over whether Prague will be

able to finance the project, he added, describing it as "a

"colossal financial gamble".

($1 = 0.9321 euros)

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