Signed Contract with KHNP on the 22nd
Construction of Two 1400MW-Class Nuclear Power Plants
Hyundai Engineering & Construction announced on the 25th that it signed a contract for the main equipment construction of Shin Hanul Units 3 and 4 with the client Korea Hydro & Nuclear Power at the Radiation Health Institute in Jung-gu, Seoul on the 22nd.
On the 22nd (Friday), at the contract signing ceremony for the main equipment construction of Shin Hanul Units 3 and 4 held at the Radiation Health Institute, Hyundai Construction President Yoon Young-jun (second from right), Korea Hydro & Nuclear Power President Hwang Ju-ho (third from right), Doosan Enerbility Vice Chairman Jung Yeon-in (far left), and POSCO E&C Vice President Kim Min-cheol (far right) took a commemorative photo after signing the contract. [Photo by Hyundai Construction]
The main equipment construction project for Shin Hanul Units 3 and 4 nuclear power plants involves building two 1400MW-class nuclear reactors in the Buk-myeon area of Uljin-gun, Gyeongsangbuk-do. The total project is valued at 3.1 trillion KRW, with a construction period of approximately 115 months from the start date.
Hyundai Engineering & Construction participated in this project as part of a consortium with Doosan Enerbility and POSCO E&C, with Hyundai Engineering & Construction’s contract amount accounting for 55% of the total, equivalent to 1.7157 trillion KRW.
The bidding for Shin Hanul Units 3 and 4 was the first domestic nuclear power plant construction project to apply an advanced bidding system called the comprehensive evaluation method, which comprehensively assesses construction capability, construction plans, and price, focusing on technical skills.
Although Hyundai Engineering & Construction submitted a higher bid price compared to competitors in this evaluation, it received high scores in the technical field, achieving the highest overall score and successfully winning the contract.
Shin Hanul Units 3 and 4 have been selected to use the Korean-designed APR1400 reactor. Hyundai Engineering & Construction has demonstrated top-tier construction capabilities in this field by successfully completing (including scheduled completions) projects such as Saewool Units 1 and 2, UAE Barakah Units 1 to 4, and Shin Hanul Units 1 and 2.
Furthermore, Hyundai Engineering & Construction has set milestones such as ‘the most domestic nuclear power plant constructions’ and ‘the first overseas nuclear power plant export’ since starting with Korea’s first nuclear power plant, Kori Unit 1, in 1970. Including the newly contracted Shin Hanul Units 3 and 4, Hyundai Engineering & Construction will serve as the main construction contractor for 24 out of 36 large Korean-designed nuclear reactors domestically and internationally.
A Hyundai Engineering & Construction official stated, “This contract win is the result of recognition of Hyundai Engineering & Construction’s unmatched technological expertise and know-how that has led Korea’s nuclear power sector for half a century. Following the near completion of Shin Hanul Unit 2, we will flawlessly construct Units 3 and 4 to restore public trust in nuclear power, strengthen the status of K-Nuclear Power in the carbon-neutral era, and devote all efforts to expanding its presence in the global market.”
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