SEOUL, Sept. 23 (Korea Bizwire) — South Korea’s top power plant builder Doosan Heavy Industries & Construction Co. said Wednesday that it will join hands with five public power companies to revitalize a gas turbine business.
Doosan Heavy and the companies will beef up their cooperation in the sectors, such as the establishment of liquefied natural gas (LNG) combined cycle power plants, gas turbines for the plants and the education of plant-related technicians, the company said in an emailed statement.
The five public power companies include Korea South-East Power Co. Korea Midland Power Co., Korea Western Power Co., Korea Southern Power Co. and Korea East-West Power Co. subsidiaries of Korea Electric Power Corp. (KEPCO).
The cooperation came five days after President Moon Jae-in visited the company’s gas turbine plant in Changwon, 398 kilometers southeast of Seoul.
Doosan Heavy has been making efforts to bolster its business of gas turbine for LNG combined cycle power plant since 2013.
Last year, Doosan Heavy independently developed a turbine for LNG combined cycle power plants, making it the fifth company in the world to pull off the feat.
Cash-strapped Doosan Heavy is slated to issue new shares worth 1.3 trillion won to weather its cash crisis.