Dresser Masoneilan Preferred Supplier for South Korean Nuclear Reactor Control Valves

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Researched by Industrial Info Resources (Sugar Land, Texas)--Dresser Masoneilan (Houston, Texas), a leading global supplier of process control valves, has been named the preferred supplier of control valves for the Shin Kori 3 and 4 pressurized water reactors (PWRs) being developed by Korea Hydro & Nuclear Power (KHNP) (Seoul, South Korea) in South Korea. Dresser Masoneilan also will provide operational support and service throughout the estimated 60-year lifetime of the reactors.

Dresser Masoneilan claims to be one of the few suppliers of control valves worldwide that is capable of complying with the stringent certifications and entire range of products required by the nuclear power industry. In 1957, the firm supplied control valves for use in the Shippingport nuclear power plant in Pennsylvania. The facility was the first large-scale civilian nuclear power plant in the U.S., and is touted to be the first in the world.

The award of this contract to Dresser Masoneilan follows on the heels of another contract awarded by KHNP in October this year to Flowserve Corporation (NYSE:FLS) (Irving, Texas) for the supply of main steam and feed water isolation valves to the Shin Kori 3 and 4 reactors. For related news item, see October 12, 2009, article - Flowserve to Supply Isolation Valves for Soth Korea's Shin-Kori Nuclear Power Plant.

Being developed by KHNP, a former subsidiary of Korea Electric Power Corporation (SEO:015760) (KEPCO) (Seoul, South Korea), the Shin Kori 3 and 4 reactors will represent the first installation of KHNP's APR1400 reactor design. Upon commencing operations in 2013 and 2014, respectively, the two reactors each will generate 1,400 MW of electricity. In August this year, KEPCO entered into a series of agreements with Nuclear Power Corporation of India Limited (NPCIL) (Mumbai) to jointly study the feasibility of licensing and constructing the APR1400 series of nuclear reactors in India. In October 2007, KHNP announced plans to invest $195 million until 2015 in developing a standardized and exportable nuclear power plant design, called the APR+.

In another recent development, testing and inspection firm TUV SUD (Munich, Germany) acquired South Korean nuclear service provider Global Nuclear Engineering Company (GNEC). The combined entity will support South Korea's nuclear program including planning, licensing, development and operation of nuclear power plants. The alliance will focus on providing specialized services to the South Korean market, while leveraging TUV SUD's global footprint to enable South Korean manufacturers to penetrate overseas markets with a primary focus on Asia.

According to data from the World Nuclear Association, South Korea has 20 nuclear reactors in operation, generating about 17,716 MW of power. Nuclear power generating capacity in the country is expected to increase to 26,600 MW by 2017, accounting for 30% of the then-overall generating capacity, estimated at 88,000 MW. The government expects nuclear power to contribute to 60% of the overall power generated in the country by 2030-35. This growth is estimated to require an addition of 15,000 MW of nuclear power generating capacity during this period.

South Korea currently relies on imports to address 97% of the country's overall energy requirements. In August 2008, South Korea unveiled the $100 billion "Energy Program to 2030," under which it announced plans to develop 10 nuclear reactors in order to increase the share of nuclear power to 60% of the overall energy portfolio and reduce dependence on fossil fuels. According to reports in January this year, the government was planning to invest $28.5 billion to develop 12 nuclear reactors, seven coal-fired power plants, and 11 liquefied natural gas units by 2022, targeting a 48% share for nuclear power in the overall energy portfolio. At the time, the country had eight nuclear power projects under way, all scheduled for startup between 2010 and 2016.

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