South Korea’s Samsung C&T’s Construction division has signed a memorandum of understanding (MoU) with the Emirates Nuclear Energy Company (ENEC) to pursue development and investment in global nuclear power projects. The signing ceremony took place on at the Sofitel Ambassador Hotel in Songpa-gu, Seoul, and was attended by ENEC CEO Mohamed Al Hammadi and Samsung C&T President & CEO Oh Se-chul.
The agreement aims to harness Samsung C&T’s extensive experience in nuclear and infrastructure projects and ENEC’s global leadership in nuclear power to lead the global nuclear market.
The MoU outlines strategic cooperation in several areas. These include potential investment in conventional nuclear projects such as new builds, restarts, and brownfield Mergers and Acquisitions (M&A) activity in the US; future deployment of small modular reactor (SMR) technologies in the UAE, US, and internationally; evaluation of opportunities in nuclear-powered hydrogen production in South Korea and other markets; investment in US-based nuclear service and equipment companies; and the joint assessment of the development and financing of a nuclear power plant in Romania.
ENEC’s Mohamed Al Hammadi said: “Nuclear energy has a pivotal role in delivering clean electricity at scale to meet rapidly growing global demand. ENEC has demonstrated that with the right strategy and partnerships, nuclear projects can be delivered safely on time, and to the highest national and international standards. Through this MoU with Samsung C&T, we are expanding our global collaboration efforts to enable new nuclear deployment, investment, and innovation. Together, we will explore projects that deliver real impact for countries seeking energy security, decarbonisation, and long-term economic growth.”
Samsung C&T’s Oh Sechul noted: “To ensure the stable supply of clean energy, nuclear power plays an essential role as a reliable baseload source. By combining the advanced technologies and global networks that both companies have built in the large-scale nuclear and SMR sectors, I look forward to creating synergies through close collaboration.”
In April, Samsung C&T secured a contract for the equipment advancement of Romania’s first nuclear power plant and is currently working on the Front-End Engineering Design (FEED) for an SMR project in cooperation with American companies NuScale, Fluor, and Sargent & Lundy. Furthermore, Samsung C&T is pursuing expansions in SMR projects in Sweden and Estonia, demonstrating tangible progress in both large-scale nuclear and SMR projects.
ENEC said the MoU “is aligned with its international strategy and its ADVANCE programme, which accelerates the evaluation and potential deployment of next-generation nuclear technologies. It also supports the UAE’s wider Net Zero 2050 Strategic Initiative and positions ENEC as a catalyst for global clean energy cooperation”.
ENEC is developer and operator of the four-unit Barakah Nuclear Energy Plant, which provides 25% of the UAE’s total electricity demand. Barakah is the first multi-unit operational NPP in the Arab world. Construction of the Barakah NPP began in 2011. Korea Electric Power Company (Kepco) led the consortium that built the plant comprising four APR1400 reactors.
ENEC is now leveraging its expertise through global partnerships to invest, partner and cooperate with other nations and companies to realise the benefits of civil nuclear energy. The deal with Samsung came a day after a similar agreement with Hyundai E&C.
