HD Hyundai Heavy Industries will invest about 1 trillion won to expand plants dedicated to land-based power generation engines and small modular reactors (SMRs).
On the 10th, HD Hyundai Heavy Industries disclosed that it will invest a total of 1.0722 trillion won to build a new plant for land-based power generation engines and a plant dedicated to SMRs.
First, HD Hyundai Heavy Industries will invest 833.6 billion won to build a new 3-gigawatt (GW) "HiMSEN engine" production base in Onsan-eup, Ulju-gun, Ulsan. According to HD Hyundai Heavy Industries, the new production base, covering about 215,000 square meters, will include ▲ an engine assembly and commissioning plant ▲ a crankshaft machining plant ▲ an engine block casting plant.
The new facilities will break ground in the first quarter of next year and are scheduled for completion in May 2028. The company said it expects the plant expansion to secure an annual production capacity of 4 GW for land-based power generation engines.
HD Hyundai Heavy Industries will also invest 238.6 billion won to establish a plant dedicated to manufacturing SMR reactor equipment systems (RES). The plant will be built on the grounds of HD Hyundai Heavy Industries' Ulsan shipyard, with completion targeted for the first half of 2029.
Recently, HD Hyundai Heavy Industries has expanded cooperation in the SMR sector with corporations such as U.S.-based global nuclear company TerraPower. In May, HD Hyundai Heavy Industries was selected as the preferred bidder to manufacture and supply key equipment for TerraPower's sodium-cooled reactor equipment systems. The company said the plant expansion is meaningful in that investment for manufacturing the equipment is now being executed in earnest.
A HD Hyundai Heavy Industries official said, "This investment is to secure core competitiveness in power generation engines and SMRs, which are drawing attention as new power sources in the age of artificial intelligence (AI)," adding, "We will preemptively respond to soaring power demand and take the lead in the global AI infrastructure market."