site.btaBulgarian President Discusses New Nuclear Reactors with Hyundai E&C

Bulgaria's partnership with South Korea in the field of high technology and investments can receive an added impetus by the expected construction of Reactor Units 7 and 8 at the Kozloduy Nuclear Power Plant (NPP), a project of national significance for Bulgaria, President Rumen Radev said on Tuesday, as quoted by his press secretariat. He talked with the management of Hyundai Engineering and Construction Co., Ltd (Hyundai E&C) during their visit to Sofia.

Earlier in the day, the Korean company signed a memorandum of cooperation and understanding with Bulgarian construction group Glavbolgarstroy, which partly concerns the expansion of the Kozloduy NPP.

At the meeting in the President's Administration, Radev raised questions about the deadlines for building the new reactors, the separation of responsibilities among the Bulgarian government, Hyundai and Westinghouse, the funding methods and the management of spent nuclear fuel.

The Bulgarian President said: "The building of new nuclear units is a major challenge, but we can count on two important success factors: the Bulgarian expertise and experience in the safe and reliable operation of nuclear power facilities over half a century, and your expertise in this field." He insisted that more Bulgarian companies and experts who have proven themselves in nuclear energy should share in the construction of the new Kozloduy units.

Radev views the partnership with South Korea in nuclear energy as a chance for Bulgaria to develop on a higher technological level and to maintain more vigorous scientific exchange in view of achieving autonomy in the operation of the future reactors at Kozloduy. He said Bulgaria has an interest in seeing the project completed on schedule, with clear financial parameters, because international practice shows that the building of nuclear capacities takes many years and the financial parameters often change with time.

The Hyundai E&C management thanked for the opportunity to discuss the prospects of the Bulgarian nuclear energy industry with the country's President. They said the construction of Reactor Units 7 and 8 of the Kozloduy NPP is to be completed between 2033 and 2035. Hyundai said they are working to ensure that the project fits within the planned temporal and budgetary framework, and view it as an undertaking of strategic importance for the company.