HD Hyundai's intermediate holding company in the shipbuilding institutional sector, HD Korea Shipbuilding & Offshore Engineering, will acquire Doosan Enerbility's Vietnamese subsidiary, Doosan Enerbility Vietnam (Doosan Vina).
HD Korea Shipbuilding & Offshore Engineering announced on the 20th that it signed a stock purchase agreement with Doosan Enerbility for Doosan Vina. HD Korea Shipbuilding & Offshore Engineering will acquire all of the shares of Doosan Vina held by Doosan Enerbility for 290 billion won.
Doosan Vina is located 120 kilometers south of Da Nang in central Vietnam. Established in 2006, it produces thermal power boilers, port cranes, and liquefied natural gas (LNG) plant modules.
HD Korea Shipbuilding & Offshore Engineering plans to maintain the existing businesses operated by Doosan Vina and utilize it as a base for independent tank manufacturing and port crane operations in the Asia region.
Independent tanks are core equipment for eco-friendly vessels such as LNG carriers, liquefied petroleum gas (LPG) carriers, ammonia carriers, and liquefied carbon dioxide carriers. Their demand has been steadily increasing following recent tightening of environmental regulations by the International Maritime Organization (IMO).
An official from HD Korea Shipbuilding & Offshore Engineering noted, "As we expand our production capacity for eco-friendly equipment, we plan to enhance our lineup of eco-friendly vessels with global competitiveness to maximize revenue."