26 July 2018
South Korea’s Doosan Heavy Industries & Construction Co. said on Wednesday that it has finally commenced the delayed construction of a thermal power plant in Vietnam after it received an advanced payment of $170 million for a 1.8 trillion won ($1.6 billion) deal it won in 2014.
The Nghi Son 2 thermal power plant project involves building of two 665 megawatt thermal power generation plants in the city of Thanh Hoa, located about 200 kilometers south of Hanoi, Vietnam. Korea’s largest power plant equipment maker will aim to complete the construction by July, 2022.
The construction comes after Doosan Heavy Industries & Construction received notice to proceed from the ordering entity Nghi Son 2 Power Limited Liability Company (NS2PC) – a joint venture between Korea Electric Power Corporation and Japan’s Marubeni Corporation – on July 10.
The power capacity of combined 1,330 megawatt thermal generation is equal to that of a newly-built single reactor and can supply electricity to about 6.8 million four-member households in Vietnam.
An unnamed official from Doosan Heavy Industries & Construction said that there has been a delay in the construction due to the contract schedule of the ordering organization and the Vietnamese government, but it has finally been able to kick off construction after receiving the advancement payment for the project.
Doosan Heavy Industries & Construction has obtained a total 7 trillion won worth of thermal power plant orders in Vietnam since 2012, including Mong Duong II, Song Hau I, and Vinh Tan 4 projects.
A consortium of Doosan Heavy Industries & Construction and Posco Engineering & Construction Co. separately won a 3.5 trillion won order to build two thermal power plants in Samcheok, Gangwon Province, the company said on Wednesday. The consortium will build two 1,050 megawatt power plants in Samcheok, in which the capacity equals to a nuclear power generation. Doosan Heavy Industries & Construction will invest 1.8 trillion won in the project to own a 51 percent stake, with the remaining stake (1.7 trillion won) held by Posco E&C.