Doosan Heavy Industries and Construction plans to participate in Dabaa Nuclear Plant as well as securing at least one big seawater desalination project to enhance the company’s sustainability in the next five years, said the company’s Country Director Cheolho Cho.
He told Daily News Egypt that Doosan has started its business in 2010 when it cooperated with the Egyptian Electricity Holding Company (EEHC) for supplying two units of steam generators and the main equipment for Ain Sokhna Thermal Power Plant.
Doosan is doing business in construction and equipment manufacturing in power and water sectors, Cheolho explained, saying that his company has a good reputation as a global player in the power sector.
“We’ve successfully completed the Ain Sokhna Thermal Power Plant project. We’re now supplying steam turbines and generators to new projects in Cairo West and Assiut thermal power plants,” he said.
Doosan seeks more opportunities in Egypt to develop the Egyptian electricity industry. Considering the country’s total installed capacity of electricity, population, and growth of economy, Egypt is the biggest market in Africa, Cheolho stressed.
“However, in terms of power generation, the country has sufficient reserve margin in electricity supply, so there will be very limited opportunities to launch new power projects, except renewables,” he noted.
However, there will be more transmission and distribution business opportunities for the sake of efficient delivery of generated electricity to the end users, he stated.
Taking fuel mix directions and climate change issues into consideration, the Egyptian government’s policy focusing on renewable is in the right direction, he asserted, expecting the government to achieve its plans as set for 2030.
In July, Egypt’s Minister of Electricity and Renewable Energy, Mohamed Shaker, assured that his ministry’s plans to generate 20% of its power needs from renewables by 2022 are going well, adding that the already installed renewables are at 5,117MW, while the figure is expected to increase to 6,628MW by 2021 which can accelerate the plans of achieving the 20% mark in 2022.
Notably, Egypt could increase the share of renewables in its electricity mix to 53% by 2030, according to a report by the International Renewable Energy Agency (IRENA) in October 2018.
“Doosan is playing an investing role in both fields, not only in Egypt, but also in other markets as well,” Cheolho noted.
The company has about 50 local employees including Cairo West and Assiut project office, he said, adding that Doosan looks forward to expansion in corporate social responsibility field.
Doosan global achieved $14bn revenues in 2018. The company has 11 subsidiaries, seven research and development (R&D) centres, and 22 branch offices.