- Company to build Karabatan combined cycle thermal power plant worth 340 billion won (about $308 million)
- Paves way for advancement into the Central Asian market
- □ Doosan Heavy Industries & Construction (Chairman & CEO, Geewon Park) has won a power plant project for the first time in Kazakhstan, paving the way for its advancement into the Central Asian power market.
- □ Doosan announced on December 30 that it signed a contract for the construction of a 310 MW-class Karabatan combined cycle thermal power plant, which is valued at 340 billion won (about $308 million), with the client Karabatan Utility Solutions (KUS).
- □ The Karabatan power plant will be constructed in a special economic zone within Atyrau Province, north of the Caspian Sea. Having entered into a EPCm (Engineering, Procurement & Construction management) arrangement, Doosan will be managing the entire process of design, production, construction, and commissioning, and will complete the project by February 2018.
- □ A petrochemical industry complex will also be constructed in phases at the Atyrau Province special economic zone, for which the Karabatan power plant will supply electricity and steam.
- □ Kazakhstan and its surrounding Central Asian countries plan to build power plants with a combined output of 23 GW until 2020. Doosan Heavy Industries & Construction expects to make more inroads into the Central Asian market by banking on the acquisition of the latest project.
- □ “By winning the Kazakhstan power plant project, after bagging the contract to construct the 1.63 billion dollar Nghi Son II coal-fired thermal power plant in Vietnam on December 26, we are reaping the fruits of our continuous efforts to diversify our overseas markets. We will proactively explore and develop more markets with ample business opportunities, including Southeast Asia, Africa and Central Asia, thereby continuously increasing our new orders in 2015 as well,” said Hun-tak Kim, CEO of Doosan Heavy’s EPC BG.