The Republic of Korea's Doosan has sold the Heat Recovery Steam Generator (HRSG) business unit of Doosan Engineering & Construction to General Electric (GE). — VNS Photo

QUANG NGAI (Biz Hub) — The Republic of Korea's Doosan has sold the Heat Recovery Steam Generator (HRSG) business unit of Doosan Engineering & Construction to General Electric (GE).

A source from Doosan Heavy Industries Viet Nam (Doosan Vina) confirmed the deal to Viet Nam News, stating that the deal was worth US$250 million.

Doosan Vina said it would transfer the HRSG shop – one of five shops built in central Quang Ngai province – to GE Power Systems Korea by the end of this year.

The HRSG business unit accounted for a minor share of Doosan Vina's overall business, the company said.

Doosan Vina, situated in the Dung Quat Economic Zone in Binh Son District of the Province, is a high-tech industrial complex with nearly 2,500 employees, supplying mega infrastructure products for thermal power plants, desalination plants, cranes and chemical processing equipment for export.

The company exported goods worth $300 million in 2015. — VNS