Doosan Enerbility wins $683 million contract to build Misfah power plant in Oman
Key Takeaways
- •Doosan Enerbility won a 930 billion won ($683 million) contract to build the Misfah combined-cycle power plant in Oman.
- •The company will perform engineering, procurement, and construction work in a consortium with China-based SEPCO-3 for clients including Nebras Power, Etihad Water and Electricity, and Bahwan Infrastructure Services.
- •The Misfah plant is scheduled for completion in April 2029 and is expected to help stabilize Oman's power supply amid rising electricity demand.
- •The contract adds to Doosan Enerbility's combined-cycle plant track record, which includes projects in Qatar, Saudi Arabia, and Vietnam.
- •The Gulf has become a key market for large EPC contracts, where South Korean builders such as Doosan compete with Chinese and European rivals.
Doosan Enerbility said Friday it has won a 930 billion won ($683 million) contract to build the Misfah combined-cycle power plant in Oman, adding another major order to the South Korean company's power plant business in the Middle East.
Under the deal, Doosan Enerbility will carry out engineering, procurement and construction (EPC) work as part of a consortium with power plant construction company SEPCO-3, a China-based contractor. The clients of the project are global developers, including Qatar's Nebras Power, the United Arab Emirates' Etihad Water and Electricity, and Oman's Bahwan Infrastructure Services.
The plant is scheduled for completion in April 2029 and is expected to help meet Oman's electricity demand and stabilize the country's energy supply. Like other Gulf states, Oman has seen power consumption climb with population and industrial growth, and gas-fired generation accounts for the bulk of its electricity supply. The country has been adding solar and wind capacity as part of its economic diversification plans, though gas-fired plants remain central to its generation mix. Combined-cycle power plants generate electricity by pairing gas turbines with steam turbines that recover waste heat, a configuration that generally delivers higher fuel efficiency than single-cycle generation.
"Our experience in projects across the Middle East helped lead to this contract," said Lee Hyun-ho, head of Plant EPC BG at Doosan Enerbility. "We will work with our partners for Oman's power stability."
Doosan Enerbility has expanded its gas-fired combined-cycle power plant construction business through projects in Qatar, Saudi Arabia and Vietnam, building a project track record across the Middle East and Asia. The Gulf has become a key battleground for large EPC contracts, where South Korean builders such as Doosan Enerbility compete against Chinese and European rivals for power and infrastructure projects.
The company, formerly known as Doosan Heavy Industries & Construction, was renamed Doosan Enerbility in 2022 and operates as a core affiliate of South Korea's Doosan Group. Its operations span power generation equipment and plant services across gas-fired, nuclear and renewable energy sectors.
Source: Korea Herald Business
