Hyundai and Holtec Expands Cooperation Into Nuclear Plant Decommissioning

Business Environment

The Holtec International of the United States of America and HDEC (Hyundai Engineering & Construction) of South Korea have now agreed for cooperating in the area of the nuclear plant decommissioning, and in 2021, the two companies has finalised an agreement for the supply of the SMR-160 small modular reactor plant of Holtec across the world.

As a part of the agreement, HDEC is going to be participating in the activities of decommissioning at the decommissioning sites owned by Holtec in the United States for the purpose of building the capabilities and experience in the preparation for the projects of decommissioning in the region of South Korea, which are going to be undertaken by the two companies.

This agreement is also providing the support for the two companies for further expanding their cooperation across the globe. The Holtec Decommissioning International, has been actively decommissioning several plants across the United States that is including the Oyster Creek plant in the region of New Jersey and the Indian Point Plant in the region of New York.

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The company has also scheduled for becoming the licensee and owner of the Palisades plant in the region of Michigan, which has been scheduled for closing down on 31st May 2022.

Rick Springman, senior vice president of International Projects at Holtec said that, as the licensee and owner of the biggest decommissioning fleet in the United States, and Holtec is also having an unique ability for the purpose of developing the strategic partnerships for further enhancing their capabilities of domestic project delivery and positioning themselves for the exports into the new markets.


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