Published : 2013-12-24 20:08
Updated : 2013-12-24 20:08
Doosan Heavy Industries & Construction Co., one of Korea’s largest power plant builders, landed an order worth 1.6 trillion won ($1.5 billion) in Vietnam, the company said Tuesday.
Doosan Heavy vice president Kim Hun-tak, Vietnam Electricity chairman Hoang Quoc Vuong and other related officials signed the construction contract for Vinh Tan 4, a 1,200-megawatt coal-based thermal power plant, in Hanoi, Vietnam, Tuesday, according to the company.
The power plant, expected to be completed by June 2018, will be built in Binh Thuan, roughly 230 kilometers east of Ho Chi Minh City.
Doosan Heavy is to collectively lead the entire process including planning, equipment manufacture, installment, and trial runs.
The company previously won a 1.4 trillion won order for Mong Duong 2 with Vietnam in 2010 and anticipates it will secure a solid position within Vietnam’s power market, which is predicted to grow to up to 40 trillion won by 2017.
“The signing of Vinh Tan 4 has upgraded the company status within not only Vietnam, but also India, Thailand, Indonesia and the overall power generation market in Asia,” said vice president Kim.
“We plan to make good use of Doosan VINA, our affiliated foothold in the Dung Quat region of Vietnam, to expand our presence in Asia,” he added.