Home > Business > Industry

Doosan Enerbility inks $664M Petrovietnam power plant deal

Published: 09 Jun. 2025, 17:12 Updated: 09 Jun. 2025, 18:44

LIM JEONG-WON
[email protected]

Representatives from Doosan Enerbility and Petrovietnam, formally the Vietnam National Industry - Energy Group, pose for a photo during a signing ceremony for the O Mon 4 gas-fired power plant on June 9. [DOOSAN ENERBILITY]

Doosan Enerbility has secured a 900 billion won ($664 million) contract to build a gas-fired power plant in Vietnam, the company announced Monday. This marks the company’s fifth major overseas gas power project this year, reinforcing its aggressive expansion into the global gas combined-cycle market.

Doosan Enerbility announced on Monday that it signed the contract with Petrovietnam, formally the Vietnam National Industry - Energy Group, the largest state-run enterprise in Vietnam, to build the O Mon 4 gas combined cycle power plant.

Doosan Enerbility, which successfully signed the contract through a consortium with local Vietnamese power plant construction company PECC2, will be responsible for the supply of main equipment, construction and comprehensive test operations.

The O Mon 4 power plant is located approximately 180 kilometers (111 miles) southwest of Ho Chi Minh City, and is scheduled for completion in 2028 with a total power generation capacity of 1,155 megawatts.

Once the power plant is completed, it is expected to contribute to the stabilization of power in southern Vietnam, including the nearby Can Tho region, according to Doosan Enerbility.

“The competitiveness proven by successfully completing numerous projects in the Vietnamese power generation market has led to this order,” said Lee Hyun-ho, head of Doosan Enerbility’s plant engineering, procurement and construction division. “Vietnam is planning to expand its gas combined cycle power plants by up to 37.4 gigawatts by 2030, so we will actively pursue orders in the future.”

Including this Vietnam contract, Doosan Enerbility has won a total of five overseas gas combined cycle power plant construction projects worth approximately 4.3 trillion won this year.

BY LIM JEONG-WON [[email protected]]