SEOUL, October 01 (AJP) -Doosan Enerbility has won an 837.97 billion won ($617 million) contract to build a combined-cycle power plant in Vietnam, the South Korean company disclosed Thursday.
The agreement with Vietnam National Industry–Energy Group, known as PVN, covers engineering, procurement and construction for the O Mon III power plant in Can Tho.
Signed Wednesday, the contract is equivalent to 4.91 percent of Doosan Enerbility’s 2025 consolidated revenue of 17.06 trillion won.
Work is scheduled to begin Oct. 6, when a formal notice to proceed is expected, with completion targeted for Oct. 6, 2030.
The contract provides for an advance payment, with subsequent billing and payments tied to project milestones.
The value excludes value-added tax and comprises payments denominated in U.S. dollars, Japanese yen and Vietnamese dong. Doosan converted the amounts into won using exchange rates quoted on the signing date.
The company said the contract value and construction schedule could change as the project progresses.
Shares of Doosan Enerbility were 1.5 percent higher at 82,800 won as of 11:30 a.m.
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