{"data":{"news":{"items":[{"title":"Doosan Enerbility wins contract to build gas-fired combined cycle power plant in Vietnam","date":"2025-07-03 08:14:34","id":5886,"author":"","blurb":"","blurb_image_uid":"https://dxfpracgmlczp.cloudfront.net/2025/06/1749958355640_download copy.jpg","blurb_expanded_image_uid":null,"article":"\n\t\n\n\n

South Korea’s Doosan Enerbility has signed a contract with Petrovietnam (PVN), Vietnam’s largest state-owned enterprise, for the construction of O Mon 4 gas-fired combined cycle power plant. The project is slated to be built by 2028, with an installed capacity of 1,155 MW.

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The O Mon 4 power plant will be located about 180 km southwest of Ho Chi Minh City. Upon completion, this facility is expected to help establish a stable power supply for Vietnam’s southwest region including the Can Tho municipality.

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Doosan won the contract together with its consortium partner PECC2, a local company specialising in power plant construction. Doosan’s role will be to supply the main components and handle the construction and overall commissioning process.

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“This recent project win is owing to our successful delivery of numerous projects in Vietnam’s power sector, which has demonstrated our competitiveness in this field,” said Hyeonho Lee, CEO of Doosan Enerbility’s plant EPC business group.

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He added, “As Vietnam has plans to additionally build gas-fired combined cycle power plants with a maximum combined capacity of 37.4 GW, we will actively endeavour to secure more orders here.”

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Doosan construction equipment has rebranded as ‘Develon’, effective immediately, announced Hyundai Doosan Infracore (HDI) last Wednesday (18 Jan). The change takes place a year and a half since August 2021 when HDI became a subsidiary of HD Hyundai (formerly Hyundai Heavy Industries Holdings Co).

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According to HDI, Develon is a combination of the words ‘Develop’ and ‘Onwards’. This new brand name conveys the direction of the company to move onwards to the future through innovation and its intention to relentlessly change the world with innovative products and solutions.

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HDI has planned the launch of the new brand since it became a subsidiary of HD Hyundai in August 2021. It aims to take a leap forward to becoming a global top-tier player in the construction equipment industry with the launch of the new brand.

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“Our three construction equipment businesses have already solidified their status as one of the key business pillars of HD Hyundai and have built an unwavering foundation for achieving performance targets and creating synergistic effects among them, amid the rapidly changing global economic environment,” said Cho Young-cheul, CEO of HDI.

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Mr Cho added, “Develon will lead the future market of electrification and automation to spur growth and continue to be a brand of choice for our customers.” With this change of the brand name, the new Develon decal will now be used on HDI’s construction equipment.

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HDI plans to introduce a more detailed brand story and vision by releasing a ‘New Brand Showcase’ through social media by the end of February. It will also unveil equipment with the new brand name Develon at Conexpo-Con/Agg 2023, which will be held in Las Vegas, the US, on 14-18 March.

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Conexpo showcase

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Earlier, HDI announced that its booth at Conexpo-Con/Agg (no: F.9153) will showcase a sampling of the company’s full line of construction equipment, the exclusive transparent bucket for its wheel loaders, a battery-powered engine and several new machines, including the company’s dozer line.

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Cutting-edge technologies such as Concept-X demonstrations, safety features and electrification will be exhibited. There will also be a display of autonomous equipment, the new Smart X-Care fleet management service and the topography-scanning drone Concept-X XiteCloud.

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First exhibited in 2019 with an autonomous Doosan wheel loader and excavator, Concept-X is a smart control solution to tomorrow’s worksites. It can survey worksite topography via 3D drone scanning, establish operational plans based on that data, and operate heavy construction equipment such as excavators, wheel loaders and articulated dump trucks without human intervention.

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The Concept-X technology paves the way to the worksite of the future with equipment-driven construction sites, freeing human personnel to tackle complex data analytics and management tasks.

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An intermediary holding company, Hyundai Genuine, has been established, following the purchase in August of Doosan Infracore by Hyundai Heavy Industries Group. Doosan Infracore has also been renamed Hyundai-Doosan Infracore.

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Hyundai Construction Equipment and Hyundai-Doosan Infracore will continue to operate under their own management systems, competing as sister companies within the global equipment market. Hyundai Genuine will provide support to both businesses, while maximising the available synergies between the two.

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Hyundai Genuine’s intention is to rank among the Global Top 5 construction equipment manufacturers, capturing 5% of global markets by 2025. This will initially be achieved through the development of integrated excavator and wheeled loader platforms, by 2025, that will be utilised by both companies. The two manufacturing businesses will also combine their research and development efforts to increase technological competitiveness, while sales strengths will be increased through mutually complementary ranges of machinery.

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Further ahead, new investment will be increased to secure next-generation business activities. The plans include the development of hydrogen engines for construction equipment, further mergers and acquisitions, investment in start-up businesses and closer industry-university cooperation, to develop market-leading expertise in automation and electrification.

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Chairperson of Hyundai Heavy Industries Group, Kwon Oh-gap, has vowed to develop the construction equipment business as a core sector of the group, a decision that will be backed by further investment at group level.

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The sale of Doosan Infracore to Hyundai Heavy Industries Holdings Co (HHIH) has officially closed, as of 19 Aug 2021. Together the two brands are getting closer to achieving their goal of becoming a global top five player.

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Doosan Infracore is now a subsidiary of the newly created Hyundai Genuine (HG) Group alongside Hyundai Construction Equipment (HCE) as two independent construction equipment companies under HHIH. HG will act as the intermediary company of HHIH Group’s construction equipment businesses and will be leading both Doosan Infracore and HCE to maximise the company’s efforts and focus on the construction equipment industry.

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The plan is to manage overlapping investments and invest heavily in areas like future technologies and innovation, said Doosan Infracore in its statement. The company will be working diligently to commercialise Concept-X and develop cutting-edge products such as electric excavators, battery packs, hybrid fuel cells and other next-generation products.

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“By focusing on each company’s areas of strength, HG will be able to advance the development of these types of products to gain a competitive edge in the global market,” explained Doosan Infracore.

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“Independently, the two companies will grow together, complement each other, even compete in good faith in all areas, including technology, production, purchasing, sales, and quality. This will enable our business to expand and associate with other companies operated by the whole HHI Group.”

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