Doosan Enerbility is flexing its muscle in the nuclear power and wind power generation sectors, core parts of energy transition.
The company is now poised to land a stream of large-sized orders in the global nuclear power market.
Doosan Enerbility is also expanding its presence in the global wind power market by winning large- and small-sized contracts.
Business sources said Doosan Group Chairman Park Jeong-won was known to have materialized a project to build a forging plant in Saudi Arabia during his recent meeting with Saudi Crown Prince Mohammed bin Salman.
They also said there was a high probability that both sides had discussed ways of promoting cooperation in projects related to the energy necessary for the construction of a smart city in Saudi Arabia.
Saudi Arabia is now building Neom City in an area covering 26,500 sq. km, 33 times bigger than the size of Seoul.
The project, costing $500 billion (660 trillion won), is a futuristic city designed to change the petroleum-centric economy into an eco-friendly ecosystem of renewable energies, such as hydrogen and photovoltaic power.
The project is predicted to offer new opportunities to Doosan Enerbility.
Doosan Enerbility established the joint-venture “Tuwaiq Casting & Forging” with Saudi Aramco early this year and embarked on a project to construct a casting and forging plant with an annual capacity of 60,000 tons in the eastern region of Saudi Arabia.
The size of the project, to be completed by the first quarter of 2025, stands at 1 trillion won.
The joint venture will produce casting and forging products for petrochemical plant pumps and valves and shipbuilding and marine plant components and equipment in Saudi Arabia.
Doosan Enerbility has a long-term plan to have the joint venture expand its business portfolio to wind power generation plant and power plant casting and forging products and new areas, such as renewable energies.
The joint venture is forecast to serve as a strategic center for the development of Saudi Arabia’s industries.
Doosan Enerbility has been recognized for demonstrating the world’s top-class technology power in the casting and forging sectors for the past 40 years. The casting and forging sector serves as the root of the manufacturing industry.
Saudi Arabia’s internalizing the sector is evaluated to lay a foundation for the Middle Eastern country’s one-step leap forward in industrialization.
Doosan Enerbility is expected to achieve additional outcomes related to nuclear power in Saudi Arabia. Doosan Enerbility said on Nov. 10 that it had signed a contract valued to be 1.6 trillion with Korea Hydro and Nuclear Power (KHNP) for construction of the turbine island at the El Dabaa Nuclear Power Plant in Egypt.
This marks the first time that Doosan Enerbility has won a contract that calls for construction of an overseas nuclear power plant, in addition to its role of supplying the main equipment, such as the reactors and steam generators.
Turbine Island, also known as the secondary circuit, refers to the turbine and generator-related equipment that is used to produce electrical energy.
The primary circuit refers to the nuclear steam supply system consisting of main components, such as the reactor and steam generator.
On Nov. 9, Doosan Enerbility signed the contract for construction of the turbine island of the El Dabaa Nuclear Power Plant in Egypt, with the related parties, including Lim Jung-mook, KHNP’s Cairo Office Head, and Yu Dae-yong, Doosan Enerbility’s Cairo Branch Director, in attendance at the signing ceremony.
As for the El Dabaa Nuclear Power Plant project, this is a project that was won in 2017 by ASE JSC, a subsidiary of Russia’s state-owned nuclear power company Rosatom, from the Egyptian Atomic Energy Agency (NPPA).
The project requires the building of four 1,200MW reactors at a site that is located at a distance of 300km to the northwest of Cairo.
This past August, KHNP signed the contract with ASE JSC to construct the turbine island of the El Dabaa Nuclear Power Plant.
The construction of the Tower Building No. 1 is scheduled to commence in August 2023.
Lee Min-jae, a researcher with NH Investment & Securities, said Doosan Enerbility is most likely to win large-size nuclear power plants from Poland and the Czech Republic on top of Egypt.
Korea and the United States have a high probability of landing additional projects under consideration in countries such as Saudi Arabia, the Netherlands, UK, Finland, South Africa, Romania and the Philippines, Lee said.
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