Hyundai Engineering and Construction Co. said Sunday it has been tapped as the preferred bidder for a nuclear plant project in Bulgaria with a goal of starting power generation by 2035.
The designation, approved by the Bulgarian parliament, came as Hyundai aims to build two nuclear reactors, each with a capacity of 2,200 megawatts, in Kozloduy, located around 200 kilometers north of Sofia.
The final winner for the project worth US$14 billion is anticipated to be announced in April following negotiations with Kozloduy NPP New Builds PLC.
The Kozloduy plant, operational since 1969, is responsible for a third of Bulgaria’s power generation. Currently, four reactors have been retired, with two others in operation.
Hyundai plans to add two additional reactors, with the goal of starting power generation by 2035.
It marked the first time for Hyundai to be designated as a preferred bidder in a major overseas nuclear plant project since 2009, when its consortium secured the contract for constructing four nucle
ar reactors in Barakah, located 270 km west of Abu Dhabi.
Hyundai also recently inked an agreement with U.S.-based Holtec International to develop a small modular reactor.
Source: Yonhap News Agency