On December 14th, a delegation from the Kingdom of Saudi Arabia led by the Saudi Arabian Minister of Industry and Mineral Resources, H.E. Bandar Al-Khorayef, paid a visit to Doosan Enerbility’s Changwon plant located at its headquarters in Changwon, Gyeongnam Province.
The Minister was accompanied that day by prominent figures from Saudi Arabia’s investment sector, including H.H. Sultan bin Khalid AlSaud, CEO of Saudi Industrial Development Fund(SIDF), and H.E. Saad Alkhalb, CEO of Saudi EXIM Bank. The visit, which was made prior to the meeting between the South Korean and Saudi Arabian industry ministers, was arranged to provide the delegation with the chance to see the business sites of some of the Korean companies with whom projects are currently underway in Saudi Arabia. Last year Doosan Enerbility had won an EPC contract valued to be KRW 1 trillion for a casting & forging plant in Saudi Arabia and is currently engaged in the construction of the Tuwaiq Casting & Forging Facility, the largest-to-date in Saudi Arabia and which is slated to be completed by 2025.
The delegation was given a tour of Doosan’s main manufacturing facilities and products, with visits being sequentially made to the forging shop, turbine shop and nuclear shop. This was then followed by a meeting with Doosan Enerbility’s senior leadership led by the President & COO Yeonin Jung. The Doosan leadership provided the guests with a status overview of the casting & forging facility currently under construction in Saudi Arabia and explained about the products to be manufactured at the newly built facility. The guests were also provided with a presentation on Doosan Enerbility’s key business areas, such as SMRs, gas turbines and wind turbines.
“Doosan Enerbility has been carrying out large-scale projects in Saudi Arabia since the 1970s and throughout that time, we have been able to build trust and achieve significant growth over the years,” said Yeonin Jung, President & COO of Doosan Enerbility. “We will continue to cooperate with our Saudi partners to ensure the successful construction of the Tuwaiq Casting & Forging Facility, and we hope to develop even more business opportunities going forward, such as for power plants and desalination plants.”
Doosan Enerbility’s initial foray into the Saudi Arabian market dates back to 1978, which is when Doosan was engaged as an equipment supplier for the Farasan Project, and this was subsequently followed by other project wins, such as construction of the Ras Al Khair Desalination Plant, Saudi Arabia’s largest desalination plant, and the Rabigh Power Plant, the largest capacity single generator unit in the region. Moreover, projects with a combined value exceeding KRW 2.3 trillion, among which were the casting & forging facility in Saudi Arabia, as well as power plants and desalination plants, were also won last year.