Doosan Heavy Industries and Construction Co. is very likely to clinch 10 trillion won worth of projects this year as the company continues to capture 1,000 mega-watt thermal power plant projects, Doosan said recently.
It will be the first time in four years that the company will secure construction projects worth over 10 trillion won in one year.
The company was named as the priority negotiator for the 1,000 mega-watt thermal power plant to be built in Samcheok, Gangwon Province, on Nov. 9. On the same day, the company signed a contract worth 104.4 billion won to build a thermal power plant with the capacity to generate 1,000 mega-watts of electricity with the Korea Midland Power Co. (KOMIPO) in Shin Seocheon, South Chungcheong Province.
The company said it would get orders for the thermal power plant’s main equipment worth some 1.5 trillion won. In addition, it has been engaged in talks on the supply of major equipment for Shin Samcheonpo Thermal Power Plant.
The company won a number of large power plant projects worth over 4 trillion won both at home and abroad, including a thermal power plant project in Vietnam, Gangneung Anin Thermal Power Plant project, and Shin Gori Nuclear Power Plant Project.
Officials of the company said they won’t have any trouble securing new projects worth over 10 trillion won this year, as major thermal power plant project orders are usually issued in the second half of the year.
Vice Chairman Chung Ji-taek said the strengthened competitive power for thermal power plant projects and intensive marketing effort, both at home and abroad, have been paying off for Doosan Heavy.
The company has been securing thermal power plant project orders one after another in Vietnam, a major market for power plants, and the company will explore thermal power plant projects in Latin America next year and would have no trouble securing the projects worth over 10 trillion won next year, too.
Doosan Heavy Industries & Construction (Chairman and CEO Park Gee-won) announced on Aug. 25 that it had signed an agreement with NAC International (NAC), a U.S.-based nuclear services company, for the joint development of Cask, a spent nuclear fuel storage system. In attendance at the signing ceremony at Doosan’s Seoul Office were officials from the two companies, including CEO Kent Cole of NAC and Executive Vice President & CEO Kim Ha-bang of Doosan’s Nuclear BG.
Cask is a special container standing some 5 meters tall and weighing over 100 tons that is designed to carry and store spent fuel. Since spent fuel constantly emits intense levels of radiation and heat, the storage system requires a special design and production technology for transportation and storage.
According to the Public Engagement Commission on Spent Nuclear Fuel Management in Korea, the storage capacity for spent fuel of the Hanbit plant will reach its limit in 2024. As the demand for spent fuel storage systems is likely to increase, Doosan plans to develop the CASK and expand it as a new business line in the nuclear sector in the future. To date, no other Korean company has developed a design technology for a long-term storage system.
The Doosan Credo is a set of principles that represent Doosan’s philosophies and our unique way of doing business. These principles have been the foundation of Doosan’s success for the past century.
“The Doosan Credo is integral to every aspect of our business and people, clearly guiding our decisions and the way we do business. Through the realization of these values, Doosan accomplishes its ultimate goal. The Credo consists of Doosan’s ‘Aspiration’ and ‘Core Values,’” Doosan Heavy said.
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Chairman Park Gee-won is on an inspection tour of the company’s project sites.(Photos:Doosan Heavy)
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