Doosan Heavy Industries has been awarded a US$ 560 million contract, to build a coal-based power plant in Vietnam.
The 600 megawatt thermal power plant operation, known as the Vinh Tan IV extension coal-based power station construction project, is an extension to the original Vinh Tan IV, commissioned in 2013.
Doosan’s contract with Vietnam Electricity is made on an engineering, procurement and construction (EPC) basis, with work due to be completed by August 2019.
The company has also signed a contract to supply equipment and auxiliary devices to both the Vinh Tan and the Vinh Tan extension plants.
Kim Hyun-tak, head of EPC Business Group for Doosan Heavy Industries, said that Doosan has signed deals in Vietnam worth US$ 5.87 billion in the past five years.
He went on to say that Doosan expects to be a major player in the future of the Vietnamese power plant market, which is forecast to hit 30 gigawatts by 2020.
Doosan’s first such project in the country was in 2010, when it won the US$ 1.17 billion contract to construct the Mong Duong II thermal power plant.