Press Release

Doosan Heavy Industries & Construction announced on May 12 that it had signed a contract with Lotte Engineering & Construction (Lotte E&C) to supply equipment for the Daegu and Cheongju Combined Heat & Power(CHP) plants. The contract is valued to be 40 billion won.

The project will involve constructing a LNG-based CHP plant in both regions in response to the energy demand and local residents’ requests calling for the transition to eco-friendly energy. CHP plants have the capability to simultaneously provide electric power generation and district heating.

With the securing of this contract, Doosan will be delivering a 120MW steam turbine and generator, one of each, to the Daegu and Cheongju CHP plants by October 2022, while Lotte E&C will be handling the EPC work.

“This is a significant win as we had gone up against major global players in an international bidding and emerged victorious. We aim to contribute to the local communities by supplying locally manufactured equipment to eco-friendly projects being executed here in the domestic market,” said Hongook Park, CEO of Doosan Heavy’s Power Services Business Group.

According to the 9th Basic Plan on Electricity Demand and Supply, LNG-based power plant projects amounting to a scale of 16GW are planned for the years leading up to 2034, with half of this, which would amount to 9GW, consisting of CHP plants.

In the domestic market, Doosan is currently working on construction of the 500MW Gimpo CHP Plant and it has built an impressive track record in the global LNG power market, having won numerous contracts, such as construction of the Fadhili Combined Cycle Power Plant in Saudi Arabia and equipment supplier contract for the Fujairah Combined Cycle Power Plant project in the UAE.