GE receives investment certificate for Doosan Engineering & Construction HRSG business in Vietnam
GE in Vietnam has officially received the investment certificate for transferring Doosan Engineering & Construction Heat Recovery Steam Generator (Doosan E&C HRSG) manufacturing and projects in the central province of Quang Ngai’s Dung Quat economic zone to GE Vietnam.
The certificate was received during a handover ceremony witnessed by Prime Minister Nguyen Xuan Phuc at the Quang Ngai Investment Promotion Conference 2016. This is an important step in GE’s acquisition process of Doosan E&C HRSG in the country.
In May 2016, GE Power, a division of GE, signed a purchase agreement to acquire the HRSG business of Doosan E&C. This acquisition, which will help GE Power meet the growing demand for its combined cycle power plants utilising HRSG technology, includes the Doosan E&C HRSG facilities and related manufacturing resources, including two manufacturing facilities located in Vietnam.
“Since the acquisition intention was announced, we’ve worked closely with Doosan Engineering & Construction to plan the integration and received tremendous support from our customers and local authorities,” said Pham Hong Son, CEO of GE Vietnam. “This acquisition has affirmed our commitment in building local manufacturing capabilities. With the expansion of our manufacturing space for HRSG, GE will continue to build and grow our total plant solutions for key power projects in Vietnam.”