Bulgaria expects to sign an engineering contract for the proposed two-unit expansion of the Kozloduy nuclear power station with a consortium between South Korea’s Hyundai Engineering & Construction (E&C) and US-based Westinghouse Electric Company by the end of October 2024, according to the country’s energy minister Vladimir Malinov.

Malinov said during a meeting in Seoul with Hyundai E&C’s chief executive Jun Young-Jun that the main goal for the Bulgarian government is to accelerate the implementation of the new-build project. He said this year it will be “key” to focus on the project’s design, financing structure and business model.

“The Kozloduy nuclear power plant is strategic for Bulgaria and Europe to achieve a low-carbon economy,” Malinov was quoted as saying in a statement by Bulgaria’s energy ministry.