SeAH Besteel said on the 15th that it has signed a memorandum of understanding with BWXT Canada, a global nuclear company, to explore expanded cooperation in nuclear power plant manufacturing.
BWXT Canada provides commercial nuclear equipment manufacturing and engineering services in North America and elsewhere, drawing on more than 70 years of proven expertise. It has supplied more than 325 steam generators and major reactor components to nuclear plants worldwide, and is expanding beyond reactor life extension into next-generation small modular reactors, large reactors and advanced technologies.
The agreement was pursued to meet growing demand for components tied to construction projects for large reactors and SMRs, as well as to reactor life extensions. The two companies will seek to boost manufacturing capabilities and technological synergy while exploring cooperation in core strategic areas such as forged products for nuclear equipment and the supply of high-value-added components.
Building on the partnership with BWXT Canada, SeAH Besteel plans to expand its business portfolio beyond its existing production of spent nuclear fuel transport and storage casks into the manufacturing of core components for SMRs and large reactors.
"This MOU, built on trust with BWXT Canada, will be an important milestone in strengthening our growth engine in the global nuclear manufacturing market," a company official said. "In step with the expanding nuclear energy market, we will strengthen our position as a total nuclear solutions provider, from specialty steel materials to large reactor components."
SeAH Besteel has steadily built a track record in spent nuclear fuel transport and storage casks on the basis of quality systems including certification from the American Society of Mechanical Engineers, the Korea Electric Power Industry Code of the Korea Electric Association, and the quality assurance standards of the U.S. Nuclear Regulatory Commission. In January last year, it became the first South Korean company to supply eight casks to North America, and in November it delivered four transport casks to Korea Hydro & Nuclear Power.