Doosan Enerbility clinched a 900 billion won ($675 million) contract to build a gas-fired power plant in Vietnam, marking the South Korean manufacturer’s latest push into Southeast Asian markets after securing several lucrative Middle Eastern deals.
The consortium with local partner PECC2 will construct the 1,155-megawatt O Mon 4 facility for state-owned PetroVietnam, with operations scheduled to begin by December 2028. The project represents a breakthrough for the long-delayed Block B-O Mon gas-to-power initiative, which has faced obstacles for two decades.
Located in Can Tho city within the Mekong Delta, the plant will supply electricity to southern Vietnam. The deal follows Doosan’s recent success in the Middle East, where it secured over $2 billion in contracts this year across Qatar and Saudi Arabia.
The Vietnamese contract brings Doosan’s total overseas power project wins to five this year, worth a combined 4.3 trillion won. Vietnam plans to expand gas-powered generation capacity by 37.4 gigawatts by 2030, presenting opportunities for further contracts.
The timing aligns with Vietnam’s energy transition strategy, though questions remain about the long-term viability of gas investments as the country pursues renewable energy goals. Vietnam’s amended national power plan emphasizes renewable sources and nuclear power reintroduction, potentially limiting future fossil fuel projects.
