S.Korea\’s Doosan Heavy to Tap Chinese Nuclear Reactor Market (2005-9-5)

Doosan Heavy Industries & Construction Co., a South Korean power-generation equipment maker, has signed a memorandum of understanding (MOU) with a Chinese partner to tap into the Chinese nuclear reactor market, the company said Monday.
The MOU, held earlier in the day at Doosan\’s Seoul office, called for Doosan and the Harbin Power Equipment Company (HPEC) to bid jointly for the construction contract for the 650 and 1,000 megawatt nuclear power plants planned for Quinshan, China\’s Zhejiang Province.
The two companies also aim to participate in the development of the CNP1000 Chinese state-run nuclear power plant project.
With the agreement acting as a stepping stone, Doosan plans to further expand its operations in the Chinese electricity generation market in the future.
Doosan clinched a US$100 million joint-venture deal with HPEC in China last year, including a contract to construct hydro-electric power facilities. It has also signed a long-term collaboration agreement with HPEC for technical cooperation in various electricity generation fields.