Press Release

Doosan Heavy Industries & Construction announced on November 13 that it had received a Notice to Proceed (NTP) for the Muara Tawar Power Plant upgrade project from PT. Perusahaan Listrik Negara (PLN) , Indonesia’s state-owned electric power corporation, during President Moon Jae-in’s state visit. The Muara Tawar Power Plant conversion project won by Doosan Heavy in March is worth approximately 470 billion won. The project owner PLN had recently concluded the project financing arrangement, enabling it to issue the NTP during President Moon’s state visit to Indonesia. Doosan Heavy is expected to receive a down payment of 45 billion won within the year’s end. The Muara Tawar Power Plant is situated 40 km east of the Indonesian capital Jakarta. The project involves supplying eight heat recovery steam generators (HRSGs) and three steam turbines, all of which will be needed to convert a 1150MW-class gas-fired thermal power plant into a 1800MW-class combined cycle thermal power plant.. As a resource-rich country with a population of 250 million people, Indonesia posted an economic growth rate of 5 percent last year, and it is emerging as a new economic powerhouse in Southeast Asia. Doosan Heavy is in the process of implementing a project to convert the Grati Power Plant into a combined cycle thermal power plant after acquiring the deal in December last year. The company completed construction of the 660MW Cirebon coal-fired thermal power plant in 2012.