By Park Si-soo
Doosan Babcock clinched a 300 billion won ($250.9 million) deal to build part of a nuclear power plant in the United Kingdom, the company said Tuesday.
The affiliate of Doosan Heavy Industries and Construction has formed a consortium with several companies to build heating, ventilation and air conditioning facilities at Hinkley Point C, according to the company.
Hinkley Point C would be the first nuclear power plant built in the U.S. in more than 20 years. French builder EDF is responsible for its construction. It has selected numerous business partners around the globe, including Doosan Babcock.
The power plant will cost around 14 billion pounds, or 26.3 trillion won, to build at present costs, rising to 24 billion pounds by the time it is finished. The first electricity is expected to be generated in 2023.
Doosan Babcock will ramp up recruitment at its major manufacturing, training and research and development centers in the U.K. to carry out the task successfully.
“We are very pleased to have been selected as a preferred bidder on such an important project in the U.K.,” Dougie McQeen, director of major projects for Doosan Babcock, was quoted as saying in a report. “Doosan Babcock’s highly skilled engineering teams are already relishing the prospect of working on such a significant U.K. infrastructure project.”
He said Hinkley Point C will contribute in a number of ways to the U.K. economy, including though cheaper, cleaner energy and new jobs.
The nuclear power plant project is expected to create more than 25,000 jobs. The deal will make it easier for Doosan Babcock to win other deals in Europe and elsewhere, analysts said. The U.K. plans to build four more nuclear reactors by 2025.
The company, merged by Doosan Heavy in 2006, reported 830 billion won in sales last year. It employs around 4,500 people.