Hyundai chosen to build Shin-Ulchin 1&2

23 April 2010

Korea Hydro & Nuclear Power Co., Ltd. (KHNP) has selected the Hyundai E&C consortium as the contractor for the main facility construction of Shin-Ulchin units 1 and 2.

Four consortia submitted bids for the project, worth an estimated KRW1.4 trillion ($1.3bn). All four consortiums passed the pre-qualification requirements for the bid, including the Hyundai consortium (Hyundai + SK + GS), the Daewoo consortium (Daewoo + Doosan + Posco), the Samsung consortium (Samsung + Kumho + Sambu), and the Daelim consortium (Daelim + Dongah + Samwhan).

The Hyundai consortium, with a KRW1.09 trillion bid (81.4% of the presumed value), was selected as the winner in March, following the bidding price appropriateness review.

The Hyundai consortium consists of Hyundai E&C, which is the main member of the consortium (45% stake), SK E&C (30%), and GS E&C (25%).

Hyundai E&C is currently the main contractor for the construction of Shin-Kori units 1 and 2 and Shin-Kori units 3 and 4. As Korea’s biggest nuclear power plant contractor, Hyundai E&C has already built 12 of the nation’s 22 nuclear power plants that are currently in operation. In addition, the company is participating in the UAE project, Korea’s first overseas nuclear power plant construction project.

SK E&C, is involved with Hyundai E&C in the construction of Shin-Kori 1-4, while GS E&C is participating in the construction of Shin-Wolsong 1&2.

With the grading work due to start in April 2010, Shin Ulchin 1&2 are expected to be complete in June 2016 and April 2017, respectively. Both the plants will be APR1400 design, the same design as Shin-Kori 3&4 and the model that is going to be used in the UAE project.


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