"Glavbolgarstroy" and Hyundai E&C signed a memorandum of cooperation on important infrastructure projects for the country and the region
"Glavbolgarstroy" is the first Bulgarian company that signed a memorandum of cooperation and understanding with Hyundai Engineering & Construction Co., Ltd. for the implementation of important infrastructure projects for the country and the region, including the construction of new nuclear units at the Kozloduy NPP site.
The Bulgarian construction holding, as an executor of numerous strategic projects in South-Eastern Europe, outlines as its priority its work on important infrastructure sites, including the construction of energy 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.
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 facilities and its vision for safe and innovative development of nuclear energy in Bulgaria.
Hyundai E&C CEO Yang Joon Yun said the company has extensive experience in nuclear power and built the first nuclear power plant in Korea in the 1970s. For the past 50 years, Hyundai Engineering and Construction has worked intensively in the construction of large nuclear power plants and small modular reactors.
"It is a great honor for us to be chosen as a partner in the Kozloduy NPP, which represents a very important energy source for Bulgaria and the region," added Yang Jun Yun.
Hyundai E&C is the engineering company has a rich portfolio of infrastructure projects. Special attention was paid to the Baraka NPP, which is located in the United Arab Emirates and was built by the South Korean company. Hyundai E&C is the second largest nuclear company in the world, having built 24 nuclear units to date, the company explained. A huge plus for the company is that it manages to complete its nuclear projects on time and within the budget. The company even hopes to complete the construction of the Seventh Block of the Kozloduy NPP by 2032.
Hyundai E&C also signed a memorandum of understanding with the Chamber of Builders in Bulgaria, and dozens of Bulgarian engineering companies stayed to meet with Hyundai E&C representatives. The company confirmed its desire to partner with the Bulgarian business, as the goal is to achieve at least 30% localization of the activities in the construction of the nuclear power. The plans are to build the first AP 1000 project in Europe with Westinghouse technology in Bulgaria.