Doosan Enerbility sold its Vietnamese manufacturing subsidiary to HD Korea Shipbuilding & Offshore Engineering for 290 billion won ($207 million), betting that demand for small nuclear reactors will justify divesting a profitable overseas operation.
The South Korean energy equipment maker announced the sale of Doosan Vina on Tuesday, with plans to funnel the proceeds into expanding production facilities for small modular reactors and gas turbines. The company already secured 150 billion won earlier this year from listing its Czech subsidiary Doosan Skoda Power.
Doosan Vina, established in 2006 and located about 120 kilometers south of Da Nang, has manufactured thermal power plant boilers, port cranes and LNG plant modules. The buyer plans to use the facility as a regional production hub for independent cargo tanks used in eco-friendly vessels.
The strategic shift reflects broader industry enthusiasm for SMRs, though commercial viability remains unproven. Market projections show the SMR sector growing from $6 billion in 2024 to potentially $13.8 billion by 2032, driven by data center power demands and decarbonization mandates. Technology giants including Amazon and Google have announced SMR investment plans.
However, only three SMR designs are currently in regulatory review globally, with construction timelines extending 3-4 years compared to 11-12 years for conventional nuclear plants. Doosan’s bet on nuclear technology expansion comes as regulatory approval and financing challenges continue to plague the emerging sector.
