Aug 31 2006
Westinghouse Electric Company has signed contracts valued in excess of $300 million to provide components, instrumentation and control equipment, Man-Machine Interface Systems, and technical and engineering support services for two new nuclear power plants to be built in the Republic of Korea.
The Westinghouse contracts are with DOOSAN Heavy Industries and Construction Company, Ltd., and the Korea Power Engineering Company, Inc. The two Advanced Pressurized Reactor 1400 (APR 1400) plants - Shin Kori 3 & 4 - will be owned and operated by the Korea Hydro & Nuclear Power Company (KHNP), a subsidiary of Korea Electric Power Corporation. The role of Korea Hydro & Nuclear Power Company on the new projects is overall project management of licensing, procurement and construction, as well as start-up and plant operations.
At the contract signing ceremony, Jim Fici, senior vice president, Westinghouse Customer Relations & Sales, said: "We are here today to begin the next era of the Korean Nuclear Industry. In beginning this APR 1400 design generation, Korea helps the world transition to Generation III designs and proves Korean design and construction capability."
Commenting on the contracts, Westinghouse President and CEO Steve Tritch commended the Republic of Korea's leadership in the worldwide commercial nuclear power industry.
"The Republic of Korea's nuclear energy program is one of the most forward-looking programs in the world and helps to ensure South Korea's energy independence," he said. "It also confirms that nuclear power is an economically competitive and safe energy source."
The contract also solidifies Westinghouse Electric Company's position as the leading supplier of new plant technology, said Dan Lipman, senior vice president of Westinghouse Nuclear Power Plants. "We have provided technology and equipment for 18 nuclear plants in South Korea in support of South Korea achieving technological self reliance and standardization in the design of nuclear power plants," he said. "This knowledge base and the investments we continue to make in new plant designs position us well for the re-emergence of new plant markets in the U.S. and elsewhere."
The scope of work to be performed by Westinghouse includes supplying reactor coolant pumps and motors, reactor vessel internals, and control element drive mechanisms; advanced instrumentation and control systems; Man- Machine Interfacing Systems; technical support services; and engineering support services.
The two plants will be located near Pusan Metropolitan City. Work will begin almost immediately and will run to 2014.