Doosan Enerbility (KRX:034020) signed a 180 billion won deal with Saudi Arabia's state-owned utility company Marafiq to convert the 1,375-megawatt Yanbu 2 Power Plant from oil to gas by 2028, the South Korean heavy industrial company said Tuesday.

The project, which is expected to cut carbon emissions by about 25%, includes supplying key components such as the combustor and control systems. Doosan Enerbility previously provided major equipment for Yanbu 2 when it was built in 2013, according to the release.