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Doosan Heavy wins US$787 mln power plant order from Vietnam

All News 16:39 October 20, 2020

By Nam Kwang-sik

SEOUL, Oct. 20 (Yonhap) -- South Korean power plant builder Doosan Heavy Industries & Construction Co. said Tuesday it has signed a US$787 million deal to build a coal-fired power plant in northeastern Vietnam.

Under the deal with VAPCO, a Vietnamese unit of the state-run Korea Electric Power Corp. (KEPCO), Doosan Heavy Industries will build the plant and provide equipment including boilers from March 2021 to February 2025, the company said in a regulatory filing.

Early this month, the board of KEPCO decided to take part in the $2.2 billion Vung Ang 2 project to build the 1,200-megawatt power plant, holding a 40 percent stake in VAPCO.

Japan's Mitsubishi Group will also hold a 40 percent stake in KEPCO's Vietnamese unit, and South Korean builder Samsung C&T Corp. will participate in the project along with Doosan Heavy Industries.

KEPCO struck a preliminary deal with Vietnam's industry ministry in April 2009 for the project.

This photo provided by Doosan Heavy Industries & Construction Co. on June 18, 2011, shows a coal-fired power plant built by the company in Thailand. (PHOTO NOT FOR SALE) (Yonhap)


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