Hyundai E&C to design two reactors in $14.6 billion project

Home > Business > Industry

Hyundai E&C to design two reactors in $14.6 billion project

Published: 05 Nov. 2024, 19:15 Updated: 05 Nov. 2024, 19:20

Hyundai Engineering and Construction CEO Yoon Young-joon, far left in the front row, signs a deal with officials of Bulgaria's state nuclear power plant builder to build two reactors in Sofia, Bulgaria. [HYUNDAI ENGINEERING AND CONSTRUCTION]

Hyundai Engineering & Construction (Hyundai E&C) will design two 2,200-megawatt reactors at Bulgaria's Kozloduy nuclear complex in a construction project worth 20 trillion won ($14.6 billion).

The company said Tuesday it had signed a nuclear power plant design contract with Bulgaria's state-run Kozloduy NPP at a ceremony in the nation's capital, Sofia, on Monday, with Hyundai E&C CEO Yoon Young-joon, Bulgarian Prime Minister Dimitar Glavchev and Bulgarian Minister of Energy Vladimir Malinov in attendance.

Yoon shared his enthusiasm for the partnership at the ceremony, noting Hyundai's technical expertise in the global nuclear market, the company said. He also expressed confidence in the project.

Hyundai E&C was tapped as the preferred bidder for the project in February, and is expected to sign an engineering, procurement and construction contract to build the two reactors in the second half of next year. The project will be executed under a consortium with Westinghouse Electric of the United States.

The Kozloduy plant located 200 kilometers (124.3 miles) north of the country's capital was the country's first nuclear facility, built in 1969, and supplies a third of Bulgaria's electricity. Units 1 through 4 have been shut down due to aging; only Units 5 and 6, which are Russian-developed pressurized water reactors, remain in operation.

Yonhap