Doosan Enerbility has secured a foothold for participation in Vietnam’s new nuclear power plant project. Chairman Park Ji-won of Doosan Enerbility, who accompanied President Lee Jae-myung as part of the economic delegation on his state visit to Vietnam, and the company’s management attended local business roundtables and forums to strengthen the foundation for cooperation in the nuclear power sector with key figures from the Vietnamese government and energy industry.

Doosan Enerbility announced on the 23rd that it had signed separate business agreements with PTSC and PETROCONs, local Vietnamese companies, at the “Korea–Vietnam Business Forum” held in Hanoi, Vietnam, to cooperate on new nuclear power projects in Vietnam and develop the related supply chain.

Both PTSC and PETROCONs are subsidiaries of Vietnam Oil and Gas Group (PVN). On the 22nd, Korea Electric Power Corporation (KEPCO) signed a memorandum of understanding (MOU) with PVN to review the feasibility of cooperation in nuclear power plant development. PTSC and PETROCONs are promoting the Ninh Thuan Nuclear Power Plant Unit 2 project in central Vietnam. The Ninh Thuan nuclear power project in Vietnam is estimated to have a combined project size of about KRW 32 trillion to 37 trillion for Units 1 and 2. A Russian company is currently carrying out the Unit 1 project. The Unit 2 project, valued at about KRW 15 trillion to 17 trillion with a power generation capacity of around 2–3 GW, has seen Japan, which previously held preferred negotiating rights, withdraw, leaving Korea, the United States, France and others competing. Team Korea is reportedly putting forward the APR1000 reactor type, whose competitiveness has already been demonstrated in the UAE and the Czech Republic.

This agreement is viewed as significant in that, while Team Korea led by KEPCO is pursuing participation in Vietnam’s new nuclear power plant project, Doosan Enerbility, as a private company, has taken the lead in establishing a cooperative framework with major local enterprises. In particular, by securing a foundation for building a local supply chain for nuclear equipment and construction, the company has created a bridgehead for future participation in the Ninh Thuan Nuclear Power Plant Unit 2 project.

Park Ji-won, Chairman and CEO of Doosan Enerbility, said, “Cooperation between the two countries, which has been expanded through joint efforts by the public and private sectors to participate in Vietnam’s new nuclear power projects, will lead to meaningful results in the future,” adding, “Doosan Enerbility will do its utmost to fulfill its role so that Team Korea, which has already proven its competitiveness in the UAE and the Czech Republic, can also bear fruit in Vietnam.”

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