Doosan Heavy Industries is expected to beat its previous record of 10 trillion won ($8.64 billion) in annual orders for the first time in four years due to upbeat performance in power plant equipment.

Doosan Heavy Industries said on Tuesday it was named as a preferred bidder for the supply of boilers and turbines to 1000 MW thermal power plants in Samcheok, Gangwon Province (in Korea) and signed a turbine supply contract with Korea Midland Power Co. for 1000 MW Shin Seocheon Thermal Power Plant for 104.4 billion won. The company’s equipment orders earned from POSPOWER’s thermal power plants are expected to reach 1.5 trillion n in total.

Doosan Heavy Industries is also likely to win an order from 1000 MW Shin Samcheonpo Thermal Power Plant.

In the first six months of this year, Doosan Heavy Industries raked in orders worth 4 trillion won from Song Hau Thermal Power Plant in Vietnam, Anin Thermal Power Plant in Gangneung and Shin Kori Nuclear Power Plant. In the latter half of this year, the company clinched orders from Harduaganj Thermal Power Station in India and Seonam Offshore Wind Project.

The company expects to win additional several projects from India and Vietnam within this year. It may win orders worth more than 2 trillion won in power station equipment whose demands are steady throughout the year.

Doosan Heavy Industries said this year’s annual orders will reach more than 10 trillion won if the current trend is maintained. The company’s last peak in orders was 10.1 trillion won recorded in 2011.

“Our domestic and overseas marketing efforts in the thermal power plant market become fruitful while the global low growth continues. We will continue to win orders in our key markets such as the Middle East, India and Vietnam and expand business into new markets such as Africa and South America,” said Jitaik Chung, vice chairman of Doosan Heavy Industries.

The Original Posted By Kim Jung-hwan/Maeil Business News Korea