South Korean Company Opens US$300 Million Plant in Central Vietnam

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May 18 – The subsidiary of South Korean Doosan Heavy Industries and Construction inaugurated a US$300 million plant in central Vietnam with the aim of developing it as a global production hub.

Doosan Heavy Industries Vietnam’s plant in Quang Ngai Province’s Dung Quat Economic Zone will make major components and equipment for the flagship company’s power and water businesses. This will include boilers, heat-recovery steam generators, seawater desalination evaporators, and material handling equipment.

The plant will also provide the chemical process equipment (for Doosan Mecatec, also under Doosan Group and will employ 1,300 locals eventually increasing staff to 3,000 by 2013.

Construction on the plant began in 2007 and is located on a 110- hectare site in the zone. It was finally completed in October 2008.

Despite the global downturn that saw many businesses scale down operations, the company remains bullish and has plans to increase competitiveness by continuin expansion across the Middle East, Southeast Asia, and India.