On March 29th, Doosan Enerbility announced that it had signed a contract valued to be approximately KRW 2.9 trillion to supply the main components for Shin Hanul Nuclear Power Plant Units 3 and 4. Under this agreement, Doosan Enerbility will be manufacturing and supplying the main components, such as reactors, steam generators and turbine generators, for Shin Hanul Units 3 and 4. The construction of Shin Hanul Units 3 and 4, located in Uljin County of Gyeongsangbuk-do Province, are scheduled to be completed by 2032 and 2033 respectively.
The 1400MW Korean-standard APR1400 reactor will be applied to Shin Hanul Units 3 and 4. The APR1400 reactor was first applied to Saewool Nuclear Power Plant Unit 1 in 2019, after which it was also installed at the Barakah Nuclear Power Plant Units 1 to 4 in the UAE and Saewool Units 3 and 4, leading to widespread recognition of its competitiveness as made evident by its strong performance, safety and economic feasibility. Furthermore, continuous efforts were made during the operation to raise the quality standards and improvements to the design were made accordingly, which in turn led to much enhanced safety.
Doosan Enerbility will be working together with some 460 local partners on the manufacturing of the components. The partners will be commissioned with creating the materials and parts to be used in the manufacturing of the main components, as well as other related works, such as machining, pipemaking and heat treatment. Early orders worth approximately KRW 45 billion were already placed by February this year, and another KRW 210 billion worth of orders are scheduled to be placed by the end of this year. In addition, to help the partners raise their competitiveness in terms of product quality, Doosan is also providing various support, such as on renewal of the KEPIC* certification, establishment of quality assurance systems and offering of quality management training programs.
* KEPIC(Korea Electric Power Industry Code) : A certification given by the Korea Electric Association in recognition of the safety and reliability of electrical equipment. The KEPIC certification is needed if one wishes to supply equipment to power plants in the Korean market.
“This agreement signifies the imminent revitalization of business for not only Doosan Enerbility, but the Korean nuclear power ecosystem as a whole, including the local partners who are taking part in the manufacturing of the main components,” said Yeonin Jung, President and COO of Doosan Enerbility. “We will make company-wide concerted efforts to manufacture and supply products that fully meet expectations and will do our utmost to contribute to Korea’s exporting of nuclear power plants.”
In the meantime on March 29th, under the lead of the Ministry of Trade, Industry and Energy, Doosan Enerbility also signed the “MOU on Special Financing for SMEs and Mid-Sized Companies to Promote Nuclear Power Ecosystem” with Korea Hydro & Nuclear Power (KHNP) and Korea Development Bank (KDB). This MOU was pursued in an effort to help partners in the nuclear sector that are struggling with high interest-induced financial difficulties. The participants have managed to collect a fund totaling KRW 200 billion, which will be used to provide low-interest special financing to the partner companies.