CB&I and Hyundai Engineering & Construction Sign MOU to Explore Nuclear Power Development Projects in the United States

Posted on July 1st, 2025 | Filed under Press Releases

THE WOODLANDS, Texas, July 1, 2025 /PRNewswire/ — CB&I announced today that it signed a Memorandum of Understanding (MOU) with Hyundai Engineering & Construction Co. Ltd. (HDEC) to explore forms of collaboration for nuclear new-build project opportunities in the U.S. This strategic collaboration will leverage the distinct strengths of both companies to help meet growing energy demands with reliable and sustainable nuclear power.

CB&I has supplied the engineering, procurement, and construction (EPC) for 123 nuclear containment vessels in the U.S., including two recently completed AP1000 containment vessel units at the Vogtle Electric Generating Plant in Georgia, and nine vessels outside the U.S. CB&I is a leader in industrial safety and quality, with an ASME-approved nuclear quality assurance program that enables it to meet the most stringent requirements for nuclear projects.

“CB&I is the most experienced, fully integrated, turnkey supplier of nuclear containments, having provided these vessels to 75 percent of the operating nuclear power plants in the U.S.,” said Mark Butts, CB&I President and CEO. “This MOU allows us to combine our deep technical and EPC expertise with HDEC’s robust construction capabilities to offer compelling solutions for the safe and efficient development of next-generation nuclear facilities.”

“Our unique nuclear power plant construction and risk management capabilities proven through the UAE Barakah and major domestic nuclear power plant projects represent our core competitive strength,” said Hanwoo Lee, CEO of HDEC. “Through this preliminary agreement, we aim to strengthen our collaboration with CB&I and establish a strong foothold for a stable entry into the U.S. market.”

About CB&I
CB&I is the world’s leading designer and builder of storage facilities, tanks, and terminals. With more than 60,000 structures completed throughout its 135+ year history, CB&I has the global expertise and strategically located operations to provide its customers world-class storage solutions for even the most complex energy infrastructure projects. CB&I is owned by a consortium of financial investors led by Mason Capital Management LLC. To learn more, visit www.cbi.com.

About Hyundai Engineering & Construction Co. Ltd.
Hyundai E&C is a recognized global leader in the energy and infrastructure Engineering, Procurement, and Construction (EPC) sector, possessing an extensive and proven track record in all aspects of nuclear power plant projects.

Forward-Looking Statements

CB&I cautions that statements in this communication that are forward-looking, and provide other than historical information, involve risks, contingencies, and uncertainties. These forward-looking statements include, among other things, statements about the expected timing and execution of projects, and statements that describe our business strategy, outlook, objectives, plans, intentions, or goals. Although we believe that the expectations reflected in those forward-looking statements are reasonable, we can give no assurance that those expectations will prove to have been correct. Those statements are based on various underlying assumptions and are subject to numerous risks, contingencies, and uncertainties, many of which are beyond our control, including, among others: adverse changes in the markets in which we operate or in credit or capital markets; our inability to successfully execute on contracts in backlog; changes in project design or schedules; the availability of qualified personnel; changes in the terms, scope, or timing of contracts, contract cancellations, change orders, and other modifications or actions by our customers and other business counterparties; changes in industry norms or codes or applicable laws; actions by lenders, other creditors, customers, and other business counterparties of CB&I; and adverse outcomes in legal or other dispute resolution proceedings. If one or more of these risks materializes, or if underlying assumptions prove incorrect, actual results may vary materially from those expected. You should not place undue reliance on forward-looking statements. This communication reflects the views of CB&I’s management as of the date hereof. Except to the extent required by applicable law, CB&I undertakes no obligation to update or revise any forward-looking statement.

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