[Asia Economy Reporter Ki-min Lee] Doosan Heavy Industries & Construction announced on the 29th that it will participate in the construction project of the Upper Trishuli-1 Hydroelectric Power Plant in Nepal in collaboration with Korea South-East Power, Korea Infrastructure Finance Corporation for Overseas Development (KIND), and the International Finance Corporation (IFC).
To this end, Doosan Heavy Industries & Construction signed a contract worth approximately 400 billion KRW with NWEDC (Nepal Water & Energy Development Co., Ltd.), a special purpose company in which Korea South-East Power is the major shareholder. NWEDC is a special purpose company with equity participation from Korea South-East Power (50%), KIND (25%), and IFC (15%).
The Upper Trishuli-1 Hydroelectric Power Plant will be constructed on the Trishuli River, located 70 km north of Kathmandu, the capital of Nepal, with a capacity of 216 MW. The construction period is about five years. Doosan Heavy Industries & Construction will manufacture and supply key equipment such as turbines and generators and will be responsible for the construction of the power plant in this project.
Doosan Heavy Industries & Construction is also promoting participation in Korea South-East Power’s Pakistan No. 2 Hydroelectric Power Project. On the same day, Doosan Heavy Industries & Construction signed a Memorandum of Understanding (MOU) with Korea South-East Power for cooperation on the Pakistan Asrit Kedam Hydroelectric Power Project. Korea South-East Power is participating as a developer in the 215 MW Asrit Kedam Hydroelectric Power Project commissioned by the Pakistan government. This power plant is located 375 km north of Islamabad, the capital of Pakistan, and is scheduled to begin construction at the end of 2022.
Doosan Heavy Industries & Construction started its hydroelectric power business in the 1980s and has participated as the main contractor in domestic hydroelectric power plants with a total capacity of 3,100 MW constructed in Muju, Sancheong, Yangyang, Yecheon, and other locations. In addition to numerous domestic hydroelectric power plants, it has supplied hydroelectric power equipment to overseas hydroelectric power plants in the United States, India, the Philippines, and other countries.
Park In-won, Head of the Plant Design, Procurement, and Construction (EPC) Business Group (BG) at Doosan Heavy Industries & Construction, said, “This hydroelectric power order has further accelerated Doosan Heavy Industries & Construction’s eco-friendly energy business, including offshore wind power and hydrogen. As opportunities to participate in domestic and international markets, such as the modernization of aging domestic hydroelectric power plants, are expected to expand, we will speed up the localization of related equipment and design and strive to revitalize related domestic industries.”
Meanwhile, Doosan Heavy Industries & Construction has actively promoted the localization of core equipment design and manufacturing for hydroelectric power generation and participated in the revitalization and ecosystem development of related industries, including participating in the ‘Korea Hydropower Business Vision Declaration Ceremony’ hosted by Korea Hydro & Nuclear Power in June last year. In September of the same year, it signed a business and technology cooperation agreement with Andritz, a global leader in the hydroelectric power sector based in Austria, laying the foundation for self-reliance in hydroelectric power design technology and establishing a basis for expanding hydroelectric power projects domestically and internationally.
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