Samsung C&T's engineering and construction division said on the 9th that it signed a strategic partnership for small modular reactors (SMRs) in Europe, Southeast Asia, and the Middle East with GE Vernova and Hitachi Nuclear Energy (GVH), global SMR development corporations.
At the signing ceremony held on the 6th in Stockholm, Sweden, President and CEO Oh Se-chul of Samsung C&T, Marv Jangoni, president and CEO of GE Vernova's power division, and Jason Cooper, president and CEO of GVH's nuclear division, and other top executives from both companies attended.
The two companies plan to lead the global SMR market based on Samsung C&T's extensive project execution experience in nuclear power and infrastructure and GVH's proven technology.
GVH is a corporations established in 2007 as a joint venture between GE of the United States and Hitachi of Japan to develop nuclear power. It is regarded as a global SMR company, developing the BWRX-300, a 300-megawatt (MW) SMR technology that is an improvement of the boiling water reactor (BWR). GVH's "BWRX-300" is being built for the Ontario project in Canada as the first SMR in the Western world.
Through this agreement, Samsung C&T will participate throughout the entire SMR project lifecycle, from the early stages to EPC (engineering, procurement, and construction), as a strategic partner in Europe, Southeast Asia, and the Middle East among the projects pursued by GVH.
Oh said, "We plan to provide optimal energy solutions by combining Samsung C&T's EPC capabilities with GVH's SMR technology," and added, "Through this cooperation, we will actively expand SMR projects in the global market."
Samsung C&T, joining hands with GVH, is also expanding its SMR business in Sweden and Estonia. It is establishing itself as a leading global SMR company by carrying out the front-end engineering design (FEED) for Romania's SMR project jointly with NuScale, Fluor, and Sargent & Lundy of the United States.