Doosan Heavy Industries Vietnam, a subsidiary of South Korean Doosan Heavy Industries and Construction, on Friday inaugurated a US$300 million plant in central Vietnam, aiming to develop it into a global production hub.
The plant in Quang Ngai Province's Dung Quat Economic Zone produces major components and equipment for Doosan Heavy Industries and Construction's flagship power and water businesses, including boilers, heat-recovery steam generators (HRSCs), seawater desalination evaporators, and material handling equipment.
It also supplies chemical process equipment (CPE) for Doosan Mecatec, also under Doosan Group, according to a statement by Doosan Vina.
The plant employs about 1,300 local people and plans to increase local staff to 3,000 in 2013.
At the inauguration ceremony, Deputy Prime Minister Hoang Trung Hai praised Doosan Vina's efforts to implement the investment amid the global economic downturn.
Doosan Heavy Industries and Construction and Doosan Mecatec signed a long-term lease on a 110- hectare site in the zone in 2006 to expand their global production network.
Doosan Vina was established shortly after that, and ground was broken for the plant in February 2007. Construction was completed in October 2008.
Doosan Vina said it aimed to develop the plant into a global production hub as it continues to boost competitiveness in line with its ongoing expansion of operations across the Middle East, Southeast Asia, and India.