Daewoo E&C Joins 'Team Korea', Takes First Step in Overseas Large Nuclear Power Plant Construction
Dukovany Unit 2 in Czech Republic Tentatively Confirmed at 24 Trillion Won Scale
In February, Hyundai E&C Won Construction Contract for Bulgaria Kozloduy Unit 2
South Korean construction companies have been consecutively announcing large-scale nuclear power plant construction contracts overseas this year. As the nuclear power industry, which was on the brink of collapse due to the previous government's nuclear phase-out policy, is revived, domestic construction companies have also gained an opportunity to advance their nuclear power projects.
At around 8:50 PM on the 17th (local time 1:50 PM), the Czech government announced that Korea Hydro & Nuclear Power (KHNP) was selected as the preferred negotiation partner for the new nuclear power plant construction project. KHNP formed 'Team Korea' for this bidding competition together with KEPCO Engineering & Construction Company (design), Doosan Enerbility (main equipment and construction), Daewoo Engineering & Construction (construction), KEPCO Nuclear Fuel (nuclear fuel), and KEPCO KPS (commissioning and maintenance).
Daewoo Engineering & Construction, responsible for construction, will be building a large-scale nuclear power plant overseas for the first time. Until now, Daewoo E&C has accumulated nuclear power plant construction experience by building Wolseong Units 3 and 4 and Shin-Wolseong Units 1 and 2 in Korea.
Daewoo E&C will be responsible for constructing two 1000MW nuclear reactors in the Dukovany and Temel?n regions of the Czech Republic. The construction of two reactors in Dukovany has been confirmed first, with the scale reaching 24 trillion KRW. The decision on whether to build the two reactors in Temel?n will be finalized within five years. If the main contract is completed by March next year, the goal is to start construction in 2029 and begin commercial operation in 2036.
Baek Jeong-wan, CEO of Daewoo E&C, reportedly stayed late into the night at the Daewoo E&C headquarters in Euljiro, Seoul, watching the bidding results with employees. In May, CEO Baek also hosted the 'Korea-Czech Nuclear Power Construction Forum' in Prague, Czech Republic, where he conducted sales activities targeting high-ranking Czech government officials and local nuclear industry representatives.
This is the second time a domestic construction company, as part of 'Team Korea,' has succeeded in securing a large-scale nuclear power plant contract overseas. When the Barakah nuclear power plant in the United Arab Emirates (UAE) was secured in 2009, Hyundai Engineering & Construction and Samsung C&T were responsible for construction.
After a dark period for nuclear power, news of nuclear power plant contracts has been heard again in the domestic construction industry since early this year. Most recently, Hyundai E&C was selected as the preferred negotiation partner for two units at the Kozloduy nuclear power plant in Bulgaria in February. Although not in the form of Team Korea, it is considered significant in the industry that a domestic construction company alone is responsible for nuclear power plant construction in Europe worth 8 to 9 trillion KRW.
An industry official said, "Nuclear power plant construction involves the most challenging construction technology in terms of scale, cost, and safety," adding, "With the nuclear power plant contract won in the Czech Republic, it is expected that opportunities for domestic construction companies to expand overseas will increase."
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