On the 30th, Korea Hydro & Nuclear Power signed a contract for the civil engineering works of Yeongdong Pumped Storage Power Plant Units 1 and 2 with DL E&C and Jipyeong Construction, who were selected as the successful bidders at the Seoul Radiation Health Institute. The contract amount is approximately 553.8 billion KRW.
Through this contract, a large volume of work related to civil engineering and architecture is expected to be supplied to partner companies during the construction period, and it is anticipated to serve as a new growth engine for the local economy in particular.
On the 30th, Korea Hydro & Nuclear Power (KHNP) signed a civil engineering contract for Units 1 and 2 of the Yeongdong Pumped Storage Power Plant with the DL E&C consortium. Hwang Ju-ho, President of KHNP (center), Park Sang-shin, President of DL E&C (left), and Lim Ok-kyung, President of Jipyeong Construction, are taking a commemorative photo.
The bidding for the civil engineering works of Yeongdong Pumped Storage Power Plant Units 1 and 2 applied a comprehensive evaluation bidding system, selecting the successful bidder based on overall assessment of construction capability, construction plan, and bid price. Since May, bids were solicited from domestic construction companies, and the DL E&C consortium, which achieved the highest overall score, was selected as the successful bidder.
The construction project for Yeongdong Pumped Storage Power Plant Units 1 and 2 obtained approval for the implementation plan on the 2nd of this month. The main construction will begin in November with the excavation of the main tunnel, aiming to complete Unit 1 by September 2030 and Unit 2 by December 2030. Yeongdong Pumped Storage Power Plant has a capacity of 500 MW, with a total construction cost reaching 1.2 trillion KRW. Once completed, the power plant is expected to generate approximately 800 GWh of electricity annually.
Hwang Ju-ho, President of KHNP, stated, "Pumped storage power plants act as a kind of battery that can store electricity, playing a crucial role not only in strengthening national energy security but also in achieving carbon neutrality. Starting with this civil engineering contract, we will actively promote the construction of the pumped storage power plant and strive to contribute to the revitalization of the local economy, including employment of local residents during both construction and operation periods."
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