SEOUL, March 31 (Korea Bizwire) — Major builder Hyundai Engineering & Construction Co. is set to make a foray into the U.S. nuclear decommissioning business for the first time among South Korean companies.
The company announced on Wednesday that it had signed a teaming agreement, including project management contract for the Indian Point nuclear plant decommissioning, with Holtec International Corp., an U.S.-based supplier for the nuclear industry.
It came four months after Hyundai E&C concluded a deal with with Holtec under which the company will gain exclusive rights for small modular reactors (SMRs) under development by the latter in the global market.
Under this agreement, Hyundai E&C will directly participate in all areas of nuclear plant decommissioning, including process and construction plans, size reduction of large equipment, chemical decontamination and the cutting of the reactor pressure container and internal gear.
The two parties reached an agreement on direct participation in Holtec’s nuclear plant decommissioning business in the U.S., joint entry into the global nuclear plant decommissioning market, and the promotion of joint marketing and bidding.
At present, Hotec is engaged in a variety of nuclear plant decommissioning projects, including Indian Point, Oyster Creek and Pilgrim nuclear power plants.
M. H. Lee (email@example.com)