[Featured Stock] Doosan Heavy Industries Soars Over 11% on Nuclear Power Benefits and Wind Turbine Supply News... Hits 52-Week High

[Image source=Yonhap News]

[Asia Economy Reporter Park Jihwan] Doosan Heavy Industries & Construction's stock price is on the rise.

As of 9:45 AM on the 7th, Doosan Heavy Industries & Construction is trading at 27,900 KRW, up 2,800 KRW (11.16%) from the previous trading day. During the session, it rose to 28,400 KRW, setting a new 52-week high.

The stock price surged as a beneficiary following the South Korea-US summit where both countries agreed to cooperate on nuclear power projects. It rose 52.65% last month alone and has recorded gains for four consecutive trading days this month.

Renewable energy business is also active. On this day, Doosan Heavy Industries & Construction announced that it signed a contract with Korea Electric Power Technology to supply 18 offshore wind turbines of 5.56 MW capacity each for the 100 MW Jeju Hallim offshore wind farm. In 2019, Doosan Heavy Industries & Construction was selected as the preferred negotiator in a competitive bidding process evaluating technology and price comprehensively. The contract amount is approximately 190 billion KRW, with a contract condition to separately conclude a long-term maintenance agreement for the wind turbines after completion.