Doosan Enerbility Wins 838 Billion Won Vietnam Power Plant Deal

Doosan Enerbility has secured a significant contract to construct a 838 billion won, or $615.9 million, gas-fired combined-cycle power plant in Vietnam. The company announced its signing of a construction agreement with Petrovietnam, Vietnam's state-owned energy group, on October 1st for the O Mon 3 Gas Combined-Cycle Power Plant.

This contract represents approximately 4.91% of the company's projected 2025 revenue. Doosan Enerbility will team up with PTSC, a Vietnamese energy services subsidiary of Petrovietnam, under an EPC contract to build the 1,155-megawatt power plant in Can Tho, located around 180 kilometers southwest of Ho Chi Minh City. This project will be the first to employ a steam turbine manufactured by Doosan Enerbility in a Vietnamese gas-fired combined-cycle power plant.

Construction is set to commence in October 2022 and is expected to be completed by 2030. The plant's completion will contribute to a stable electricity supply for southern Vietnam. This contract strengthens Doosan Enerbility's presence in Southeast Asia's power generation market, following its recent win for the O Mon 4 power plant.

The company has now secured five gas-fired combined-cycle power plant construction projects, domestically and overseas, this year. Other recent contracts include the Jafurah cogeneration power plant in Saudi Arabia, the Duqm gas-fired combined-cycle power plant in Oman, and the Misfah project in Oman. Including the latest deal, Doosan Enerbility's cumulative contract value for the year totals approximately 3.87 trillion won.

Lee Seong-yeol, head of Plant EPC Sales at Doosan Enerbility, highlighted the company's competitiveness in Vietnam's gas-fired power generation market and its ambition to secure more contracts in the region by successfully executing these projects.