Doosan Enerbility has secured a contract worth approximately 9,300 billion won — roughly US$670 million — to build the facility. The award extends the company’s Gulf pipeline and supports revenue visibility well into the decade. It also draws Korean, Chinese, Qatari, Emirati and Omani capital into a single large-scale baseload asset.
Project Structure and Partners
Doosan Enerbility will carry out engineering, procurement and construction alongside SEPCOIII Electric Power Construction Corporation, its Chinese EPC partner. Doosan will also supply steam turbines and generators. According to Yonhap news agency, the total contract value sits at about 9,300 billion won.
The plant will rise approximately 20 kilometres west of Muscat. Commissioning is targeted for April 2029. At 1,700 megawatts, the asset will rank among the larger gas-fired additions to Oman’s grid in recent years.
The project was awarded by a developer consortium comprising Nebras Power of Qatar, the UAE’s Emirates Utilities Development Company, and Oman’s Bahwan Infrastructure Services. That consortium structure reflects a wider trend: Gulf developers pairing with Asian contractors to deliver baseload capacity on time and within budget.
What Does the Deal Mean for Investors?
The award signals firm and continuing demand for gas-fired generation across the Gulf. Oman needs reliable baseload power to serve industry, urban growth and rapidly expanding data infrastructure. Combined-cycle technology delivers both scale and fuel efficiency. It remains the format of choice for large Gulf procurements.
However, the deeper signal lies in the contracting mix itself. A Korean builder, a Chinese EPC partner and a multi-country Gulf developer consortium have converged on one project. That flexibility in procurement points to a market still open to international bidders. It also shows that cross-border consortiums can compete effectively against regional players.
For Doosan Enerbility, the contract adds a firm order to its Gulf backlog. Revenue recognition will extend to 2029. That supports earnings visibility and demonstrates growing execution capacity in a strategically important market.
South Korean firms have supplied equipment and engineering expertise to Gulf power systems for decades. This contract moves Doosan further along the value chain — from equipment supplier to integrated EPC partner on a flagship cross-border platform.
Korea’s Industrial Reach Expands
‘Doosan’s Oman win shows that Gulf power projects still reward scale, execution and consortium reach.’
Korea’s broader industrial footprint in the Gulf grows with each major EPC award. Doosan Enerbility is not alone in this push. Other Korean engineering groups are active in Saudi Arabia and the UAE. Together, they reinforce Seoul’s position as a preferred partner for Gulf energy procurement.
Investors and project finance teams should watch two things closely: construction progress milestones through 2026 and 2027, and whether this award catalyses follow-on contracts for Doosan and SEPCOIII across Oman and the wider region.
Quick answers
It is a 1,700-megawatt combined-cycle gas power plant being built approximately 20 kilometres west of Muscat, Oman. Doosan Enerbility leads the EPC work alongside Chinese partner SEPCOIII, with commissioning targeted for April 2029.
The contract is valued at approximately 9,300 billion Korean won, equivalent to roughly US$670 million at current exchange rates, according to Yonhap news agency.
The contract was awarded by a developer consortium comprising Qatar’s Nebras Power, the UAE’s Emirates Utilities Development Company, and Oman’s Bahwan Infrastructure Services.
