Seoul: HD Korea Shipbuilding and Offshore Engineering (HD KSOE) Co. announced it has signed a 290 billion-won (US$207 million) agreement to purchase Doosan Enerbility Co.'s Vietnam subsidiary.

According to Yonhap News Agency, under the deal, HD KSOE will acquire all shares of Doosan Vina owned by Doosan Enerbility, as detailed in a regulatory filing by the South Korean shipbuilder. Established in 2006, Doosan Vina operates a manufacturing complex located approximately 120 kilometers south of Da Nang in central Vietnam. The facility has been involved in producing thermal power plant boilers, port cranes, and liquefied natural gas (LNG) plant modules.

HD KSOE plans to maintain the subsidiary's current business operations while transforming the site into a production base for independent cargo tanks and a regional hub for its port crane business in Asia. Independent tanks are essential components used in eco-friendly vessels, such as LNG-fueled ships, liquefied petroleum gas (LPG) carriers, ammonia carriers, and liquefied carbon dioxide carriers. Demand for these products is increasing due to strengthened environmental regulations by the International Maritime Organization.

"This transaction was made possible with mutual interests aligned and support from the government," an HD KSOE official stated. "By expanding our eco-friendly equipment production capacity, we will broaden our lineup of environmentally friendly ships with global competitiveness and maximize profitability."

HD KSOE, a subholding company of the shipbuilding-to-machinery conglomerate HD Hyundai, oversees three affiliates, including HD Hyundai Heavy Industries Co.