The winning bid - from a consortium comprising Hyundai E&C, Doosan Enerbility and Posco E&C - was selected following a "comprehensive review and approval system" that was applied for the first time in the field of nuclear power plant construction, KHNP said. The contract is worth KRW3.1 trillion (USD2.3 billion).
The main facility construction refers to the installation and commissioning of civil engineering, architecture, machinery, electricity, piping, and measurement for the major facilities of a nuclear power plant.
In November 2014, KHNP signed an agreement with Ulchin County to build Shin Hanul 3 and 4. The company applied for a construction licence for the units in January 2016. Site preparation for the two units was originally scheduled to begin in May 2017, with commercial operation of unit 3 scheduled for December 2022, with unit 4 following a year later.
However, KHNP announced in May 2017 that it had instructed Kepco Engineering & Construction - which signed a design contract in March 2016 - to suspend work for the planned units as a result of the then new President Moon Jae-in's policy of phasing out nuclear power. Work towards licensing the new units was to continue.
President Yoon Suk-yeol - who assumed power in May 2022 - has reversed former President Moon Jae-in's policy of phasing out nuclear power. In July last year, Yoon encouraged a speedy restoration of the country's "nuclear power plant ecosystem" after Minister of Trade, Industry and Energy Lee Chang-yang set out plans for revitalising South Korea's nuclear power industry, including the aim for work on Shin Hanul 3 and 4 to resume as early as 2024.
In March this year, KHNP and Doosan Enerbility signed a KRW2.9 trillion (USD2.2 billion) contract for the supply of the main equipment for Shin Hanul 3 and 4. Under the contract - which will run for 10 years - Doosan Enerbility will supply the nuclear reactors, steam generators and turbine generators for the two APR1400 units. A ceremony to mark the start of production of the main components for Shin Hanul 3 and 4 was held last month.
Preparatory groundwork began for the construction of the two APR1400s following the approval by the South Korean government of the project's implementation plan in June this year.
Construction of the units is expected to begin in April next year when a construction permit is set to be granted. Shin Hanul unit 3 is scheduled to be completed by 2032, and unit 4 by 2033.
