South Korea's Doosan wins major EPC contract for Misfah power project

MUSCAT, AUGUST 21

South Korea’s Doosan Enerbility has disclosed a major engineering, procurement and construction contract for Oman’s 1,700MW Misfah Independent Power Project, providing new details on the value and implementation schedule of one of the Sultanate of Oman’s largest upcoming power projects.

The contract with Jabel Power SAOC is valued at 928.14 billion South Korean won, comprising $284.25 million and €323.35 million, according to the company’s disclosure dated August 20. Doosan said the contract runs from August 20, 2026, until April 1, 2029, with the completion date tied to the plant’s scheduled commercial operation. The value represents about 5.4 per cent of the company’s consolidated revenue for 2025.

The disclosure marks a further step in the implementation of the Misfah project following the award of the development contract and signing of the power purchase agreement earlier this year. Nama Power and Water Procurement (Nama PWP) awarded Misfah to a consortium led by Nebras Energy and comprising Etihad Water and Electricity and Bahwan Infrastructure Services. The project will have total generation capacity of 1,700MW.

According to Nama PWP’s latest annual report, 1,203MW of early power capacity is scheduled to become available in the second quarter of 2028, with the full plant expected to achieve commercial operation in the second quarter of 2029.

Misfah is being developed alongside the 877MW Duqm Independent Power Project as Oman adds new high-efficiency generation capacity to meet rising electricity demand and support the reliability of the national power system.

Nama PWP signed power purchase agreements for the two combined-cycle gas turbine projects in January, placing their combined investment at approximately RO 1 billion.

The Misfah project will serve the Main Interconnected System from Muscat Governorate, while the Duqm project will add generation capacity in Al Wusta Governorate.

The plants are designed as high-efficiency combined-cycle gas turbine facilities capable of providing dispatchable electricity as Oman expands renewable generation across its power system.