Doosan Enerbility has won a construction project for a combined cycle power plant in Vietnam.

Doosan Enerbility announced that it signed an engineering, procurement, and construction (EPC) contract for the O Mon III combined cycle power plant construction project in Vietnam. The contract value is 837,970,880,392 won, equivalent to 4.91% of recent revenue.

The counterparty is VIETNAM NATIONAL INDUSTRY - ENERGY GROUP (PVN), and the sales and supply region is Can Tho, Vietnam.

The contract date is September 30, 2026, based on the contract signing date. The contract period runs from October 6, 2026 to October 6, 2030. However, the start date is the expected issuance date of the NTP (Notice to Proceed), and the end date is the expected completion date of construction.

Regarding the payment method, there are contract and advance payments, with payments billed and made upon achievement of milestones.

The contract value is composed of three foreign currencies. The foreign currency contract amounts are USD 371,095,083.71, JPY 31,657,651,000, and VND 1,159,065,742,046. For conversion to Korean won, the first announced exchange base rates on the contract date of September 30 were applied: 1,358.40 won per dollar, 8.6316 won per yen, and 0.0523 won per Vietnamese dong. The contract value excludes value-added tax (VAT).

The recent revenue of 17,078,764,658,032 won used as the comparison benchmark is based on the consolidated financial statements as of the end of 2025.

Meanwhile, the company stated that the contract value and contract period may change as the project progresses.