What's Happening?
Hyundai Engineering & Construction (E&C) is intensifying its efforts to advance nuclear reactor construction in the United States. The company recently hosted a seminar in Texas to promote understanding of large-scale nuclear power plant technologies. This event aimed to strengthen partnerships with local companies for the construction of four reactors as part of Fermi America’s Project Matador, an 11-gigawatt private energy campus in the southern U.S. Hyundai E&C has been actively involved in the front-end engineering design of these reactors since signing a contract with Fermi America last year. The company is now focused on laying out facilities, selecting a cooling system, and estimating costs, with plans to finalize an engineering, procurement,
and construction contract within the first half of the year.
Why It's Important?
The expansion of nuclear power infrastructure in the U.S. is crucial for enhancing energy security and meeting growing energy demands. Hyundai E&C's involvement in Project Matador represents a significant step in addressing the challenges faced by the U.S. nuclear industry, such as workforce shortages and supply chain disruptions. By fostering partnerships with local companies, Hyundai E&C aims to improve its competitiveness in the U.S. market and contribute to the country's energy capacity rebuilding efforts. This initiative is particularly timely as the demand for reliable energy sources increases alongside industrial growth and technological advancements.
What's Next?
Hyundai E&C plans to continue its collaboration with Fermi America and other stakeholders to establish a sustainable cooperation framework for nuclear power plant construction in Texas and across the U.S. The company is expected to finalize the engineering, procurement, and construction contract for Project Matador soon, which will pave the way for the commencement of construction activities. As the project progresses, it will likely attract further interest from local construction firms and industry stakeholders, potentially leading to more collaborative opportunities in the nuclear sector.
