Doosan Enerbility Successively Wins New Contract in Central Asia

Doosan Enerbility has won the first-ever contract to be won in Uzbekistan. The contract is valued to be approximately KRW 60 billion and holds significance as being the first to be awarded in the country. Uzbekistan plans to raise its nationwide installed capacity from the current 15.8GW to 29.3GW by 2030.

Key Highlights:

* This contract win comes on the heels of the KRW 1.15 trillion power plant contract that was recently won in Kazakhstan one week ago.

* The forecast of an annual growth rate of 10 percent or more for the Uzbekistan power market.

Original Press Release:

March 22 -- Doosan Corporation issued the following news release:

- Supplier agreement worth KRW 60 billion for LNG plant equipment secured, the first-ever contract to be won in Uzbekistan

- Sales efforts bolstered in Central Asia, including Uzbekistan which is home to many PPP projects

Doosan Enerbility has successively won another new contract in the Central Asian LNG power generation market.

Doosan Enerbility announced on March 22nd that it had received the Notice to Proceed (NTP) from the Chinese EPC contractor Harbin Electric International (HEI) for the equipment supply agreement of the “Syrdaria II Combined Cycle Gas Turbine(CCGT) Power Plant” in Uzbekistan. The contract is valued to be approximately KRW 60 billion and holds significance as being the first-ever contract to be won in Uzbekistan. This contract win comes on the heels of the KRW 1.15 trillion power plant contract that was recently won in Kazakhstan one week ago.

The 1,600MW power plant will be built in the Syrdaria region, which is located 150km to the south of Uzbekistan’s capital Tashkent, with the target being to start commercial operation in 2026. Under the terms of the agreement, Doosan Enerbility will be supplying 500MW steam turbines and generators for the power plant.

“As the country with the highest growth potential in Central Asia, Uzbekistan has numerous public-private partnership (PPP) projects taking place, particularly in the infrastructure sector such as power generation and construction,” said Hongook Park, Head of Doosan Enerbility’s Power Services Business Group. “We plan to use this equipment supply agreement as a stepping stone to strengthen our targeting of the Central Asian market, including Uzbekistan.”

According to Uzbekistan’s Ministry of Energy, the country plans to raise its nationwide installed capacity from the current 15.8GW to 29.3GW by 2030, leading to the forecast of an annual growth rate of 10 percent or more for the Uzbekistan power market.

Source: Doosan Corporation

[Category: Procurement and Sales]