This photo, provided by Hyundai Engineering & Construction Co., shows participants at a recent early works agreement signing ceremony held among the South Korean builder, Finland’s state-owned energy company Fortum and U.S. nuclear firm Westinghouse in Helsinki. (Yonhap)
SEOUL, June 24 (Korea Bizwire) — Hyundai Engineering & Construction (E&C) Co. said Tuesday it has signed an early works agreement (EWA) with Finland’s state-owned energy company Fortum and U.S. nuclear firm Westinghouse to jointly pursue the construction of a new nuclear power plant in Finland.
The agreement, signed last week at Fortum’s headquarters in Helsinki, follows the selection of a Hyundai E&C-Westinghouse consortium as the preferred partner for early-stage project development in the Northern European country.
An EWA is a preparatory contract that enables participating companies to begin preliminary work on a major infrastructure project prior to a final investment decision or full construction contract.
Under the agreement, the consortium will carry out in-depth studies related to project planning, site evaluations and other key groundwork for the potential construction of Westinghouse’s 1,000-megawatt-class AP1000 reactor.
Hyundai E&C said the agreement provides an opportunity to demonstrate its strong project capabilities and establish a close cooperative relationship with Fortum, bolstering its position ahead of a potential full-scale construction contract.
“Leveraging over five decades of experience in the nuclear power sector and our world-class engineering, procurement and construction capabilities, Hyundai E&C aims to provide reliable nuclear power solutions to key markets, including Europe,” a company official said.
(Yonhap)
