Equipment Contract Promotion Starting from August
Korea Hydro & Nuclear Power (KHNP) has secured a contract worth 260 billion KRW for nuclear power plant equipment related to Romania.
The Ministry of Trade, Industry and Energy announced on the 27th, "KHNP has won the contract for the construction project of a tritium removal facility in Romania worth 260 billion KRW," adding, "This marks the second nuclear power plant equipment export contract under the Yoon Seok-yeol administration, following the project in El Dabaa, Egypt."
On the same day in the afternoon, KHNP President Hwang Ju-ho and Cosmin Ghi??, President of Romania's Nuclear Energy Agency, signed the contract at the Four Seasons Hotel in Seoul, in the presence of Minister Lee Chang-yang of the Ministry of Trade, Industry and Energy and Ambassador Armeanu of Romania to Korea.
The project involves constructing a safety facility capable of capturing and storing tritium, a radioactive substance generated during the operation of heavy water reactors, to support the continued operation of the Cernavod? Nuclear Power Plant operated by Romania's Nuclear Energy Agency. KHNP participated in the bidding for this project in October last year and has now finalized the contract.
According to the Ministry of Trade, Industry and Energy, this contract represents the largest single-equipment export deal in the history of nuclear power plant exports. Based on the nuclear export status survey from 2014 to 2021, the previous largest single-equipment export contract was approximately 119 billion KRW.
A ministry official explained, "Following the full-scale construction and ordering of domestic nuclear power plants such as Shin Hanul Units 3 and 4, and the additional supply of high value-added export orders including 24 types of equipment worth about 100 billion KRW, this is expected to significantly contribute to revitalizing the domestic nuclear power ecosystem, which has faced difficulties due to a shortage of orders in recent years."
Furthermore, the ministry views that KHNP has secured a favorable position for winning subsequent large-scale projects, such as the Cernavod? nuclear power plant equipment improvement project, expected to be worth a total of 2.5 trillion KRW, by gaining recognition for its experience in heavy water reactor continued operation and competitiveness in constructing and operating safety facilities.
KHNP plans to promote participation from domestic nuclear power equipment suppliers by holding a project briefing session for domestic suppliers in August and will proceed with equipment contracts accordingly.
Minister Lee stated, "This contract played a key role in the ordering country deciding Korea as a trustworthy partner, reflecting the Yoon Seok-yeol administration's commitment to abandoning nuclear phase-out policies and promoting nuclear power exports. We will continue to support exports of nuclear power plant equipment alongside large nuclear power plants to maintain ongoing contract wins."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
