Hyundai E&C, Poland bolster partnerships in nuclear power

It will team up with an association of construction firm employers and a state-run nuclear research institute in Poland

Hyundai E&C CEO Yoon Young-joon (left), Polish Association of Construction Industry Employers' Chief Economist Damian Kaźmierczak on Sept. 12, 2023 (Courtesy of Hyundai E&C)
Hyundai E&C CEO Yoon Young-joon (left), Polish Association of Construction Industry Employers' Chief Economist Damian Kaźmierczak on Sept. 12, 2023 (Courtesy of Hyundai E&C)
Eun-Ji Shim 1
2023-09-14 18:02:12 summit@hankyung.com
Energy

Hyundai Engineering & Construction Co., a major affiliate of South Korean automaker Hyundai Motor Co., is boosting its networks in the nuclear power construction sector of Poland.

It signed a memorandum of understanding with Polish Association of Construction Industry Employers on Sept. 12 to collaborate in building nuclear energy plants, Hyundai E&C said on Thursday. The two parties will share information on the Polish construction industry and exchange technologies to win nuclear power projects together.

Hyundai E&C also signed an agreement with Poland’s National Center for Nuclear Research on the same day for research and development. They will join forces to study nuclear power safety, develop nuclear reactors for research and share technologies through exchanges between the two countries' professionals.

The Korean firm will set up an office in Warsaw and use it as a base from which to advance into the Eastern European market.

Hyundai E&C said the new office will partner with Poland’s major construction companies Erbud Group and Unibep S.A. to join projects involved in building a new airport in the capital, city infrastructure and smart city systems.

Hyundai E&C is also expanding its presence in the petrochemical and nuclear power sectors in Poland via its affiliate Hyundai Engineering Co.

The affiliate signed an MOU in July with Ultra Safe Nuclear Corp. (USNC) of the US and Grupa Azoty Zakłady Chemiczne Police S.A. of Poland for joint development of nuclear power, including micro-modular reactor (MMR).

The three companies will cooperate in the implementation of USNC’s MMR technology in the chemical industry, energy system construction and the use of zero-emission nuclear power to produce hydrogen.

In June, Hyundai Engineering started the initial production test at its Poland-based petrochemical plant. The factory, valued at 1.5 trillion won ($1.2 billion), will produce 400,000 tons of polypropylene annually for automotive materials and synthetic fabrics.

Hyundai E&C is Hyundai Engineering's largest shareholder with a 38.6% stake as of the end of 2022.

Write to Eun-Ji Shim at summit@hankyung.com

Jihyun Kim edited this article.
#Hyundai Engineering & Construction #Hyundai Construction Korea #Hyundai E&C Korea #Hyundai E&C Poland nuclear project #Korea-Poland nuclear power project

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