Doosan Heavy Industries & Construction said on Nov. 30 that it has signed an agreement with Korea Western Power Co. for development of a hydroelectric power plant in Phou Ngoy, Laos.
The project is being carried out jointly with Korea Western Power Co. after Thailand's developer company, Charoen Energy and Water Asia Co. (CEWA), signed a business development agreement with the Laotian government.
Doosan Heavy Industries plans to complete the construction of the 728-megawatt hydropower plant in the middle Mekong river in Laos by 2029.
Doosan Heavy will provide key equipment and build the plant under a $2.4 billion EPC system, which stands for engineering, procurement and construction.
Meanwhile, the power plant builder will use the plant project as a chance to make a foray into the overseas market of key equipment for hydropower plants.