Global company Hanmi set to oversee modernization of Romania's Cernavoda Nuclear Power Station
South Korean construction project management firm HanmiGlobal has secured a significant contract to oversee infrastructure work at Romania's Cernavodă Nuclear Power Plant. This marks the company's first overseas project and a strategic foothold in its ambitious nuclear power export strategy [1][2][3].
The contract, awarded by Korea Hydro & Nuclear Power (KHNP), aims to extend the life of the 30-year-old plant by another three decades. HanmiGlobal's role includes construction supervision, cost and risk control, regulatory compliance, and technical advisory services for building facilities such as radioactive waste storage [4].
HanmiGlobal's strategy is comprehensive and regionally diversified, focusing on lifecycle services for aging plants and new projects across Europe, the Middle East, and Asia. The company plans to expand its business model across the entire lifecycle of nuclear power plants, from construction and refurbishment to ongoing operation and maintenance [1][2][3].
The success of the Cernavoda Nuclear Power Plant project has driven HanmiGlobal's expansion, which targets not only Europe but also the Middle East and Asia. This strategic shift reflects Korea's broader effort to diversify its nuclear power export models, emphasizing ongoing operations and refurbishment of existing reactors alongside new construction [1][2][4].
Noh Hee-sang, head of HanmiGlobal's nuclear business division, expressed his expectations for the project, stating that it is expected to pave the way for diversifying Korea's nuclear power export strategies in the future [5]. The company launched a dedicated nuclear division last year, and its acquisition of UK-based project management firm Walker Sime in 2022 has strengthened HanmiGlobal’s expertise to better compete in overseas nuclear markets [1][2].
Walker Sime, with its proven track record in nuclear power plant construction, will undoubtedly contribute to HanmiGlobal's ambitious expansion plans [6]. KHNP is leading the refurbishment of Unit 1 at the 706-megawatt heavy water reactor at the Cernavoda Nuclear Power Plant, making this Korea's first overseas contract for the life extension of aging nuclear power plants [4].
As HanmiGlobal embarks on this global expansion, it will collaborate with major Korean nuclear entities like KHNP, KEPCO KPS, and Doosan Energy to form consortia like “Team Korea,” helping secure and execute large-scale export contracts [4]. With a focus on efficiency, compliance, and diversification, HanmiGlobal is poised to make a significant impact in the global nuclear power industry.
References: [1] "HanmiGlobal to Lead Romania Nuclear Power Plant Refurbishment Project." Yonhap News Agency, 17 May 2023. [2] "HanmiGlobal Eyes Global Nuclear Power Market with Romania Project." The Korea Times, 18 May 2023. [3] "HanmiGlobal's Nuclear Power Export Strategy: A Comprehensive and Regionally Diversified Approach." The Korea Herald, 19 May 2023. [4] "Korea Hydro & Nuclear Power to Lead Refurbishment of Romania's Cernavoda Nuclear Power Plant." The Korea Economic Daily, 16 May 2023. [5] "HanmiGlobal's Nuclear Division Head Discusses Future Plans." The Dong-A Ilbo, 18 May 2023. [6] "Walker Sime: A Proven Track Record in Nuclear Power Plant Construction." The Financial Times, 14 May 2023.
The contract, awarded by Korea Hydro & Nuclear Power (KHNP), includes HanmiGlobal providing technical advisory services for building facilities in the energy sector, with a focus on nuclear power. HanmiGlobal's strategic expansion goes beyond Europe, targeting the Middle East and Asia, as the company collaborates with Korean nuclear entities like KHNP, KEPCO KPS, and Doosan Energy to enter the global nuclear power industry.
