Hyundai E&C signs Memorandum of Cooperation with Glavbolgarstroy

Glavbolgarstroy is the first Bulgarian company to be selected by Hyundai E&C as a partner for the construction of the two new nuclear reactors The reactors will be the first in Europe to be built using AP-1000 technology, characterised by a passive cooling system.

At an official event in Sofia, the Korean company presented its experience in the field of nuclear energy as one of the leading companies building nuclear power facilities and its vision for safe and innovative development of nuclear energy in Bulgaria.

The conference was attended by the interim minister of energy Vladimir Malinov, chairman of the energy Committee of the 49th National Assembly Delyan Dobrev, CEO of Hyundai Engineering and Construction Yang Jun Yoon, chairman of the board of Glavbolgarstroy Holding Kalin Peshov, as well as other representatives of the energy and construction sectors in the country.

"It is a great honor for us to be selected as a partner in Kozloduy NPP, which represents a very valuable energy source for Bulgaria and the region," said Yang Jun Yun.

Hyundai Engineering and Construction has worked extensively over the past 50 years in the construction of large nuclear power plants and small modular reactors. Yang Jun Yoon said the company has extensive experience in the nuclear power industry and built Korea's first nuclear power plant in 1970.

During the event, interim energy minister Vladimir Malinov said that the first priority in the development of nuclear power in the country will be to comply with all international safety and environmental protection standards.

The minister pointed out that according to the preliminary agreements with the Korean concern, maximum participation of the Bulgarian business in the design and construction of the project is required. It is expected that nearly 10 thousand workers will be needed to build the two new units at the site.

In order to ensure the necessary delivery infrastructure and to provide suitable and safe working conditions for all these workers, Hyundai E&C have started preliminary meetings with the Bulgarian business representatives.

As a contractor on numerous strategic projects in Southeast Europe, Glavbolgarstroy has made it a priority to work on major infrastructure projects, including the construction of power facilities and infrastructure. The company is committed to implementing the latest technologies and environmental standards to ensure sustainable and efficient development of the energy network in the region.

Hyundai Engineering and Construction is the world's second largest nuclear construction company with a 54-year history. It has completed more than 120 oil and gas projects for the world's largest companies. To date, the Korean company has built 24 nuclear units, with 3 currently under construction. The total capacity of all the nuclear facilities built by Hyundai
Engineering and Construction amounts to 27 gigawatts.

The two reactors with AP1000 technology that Hyundai Engineering and Construction will build in Bulgaria will be the first with such technology in Europe.