Hanwha Ocean (KRX:042660) has concluded a construction order contract with Yeosu Eco Energy for the 480MW Yeosu Eco Energy LNG Cogeneration Project, valued at approximately 527.9 billion won.

The contract represents 4.1% of Hanwha Ocean's latest fiscal year sales, which stood at 12.784 trillion won based on 2025 consolidated financials, according to a Tokyo bourse filing on Monday.

The project is scheduled to run from Aug. 3, 2026, to Aug. 31, 2029, with payments to be made according to construction progress and a deposit or advance payment required.

The counterparty is an affiliated company of Hanwha Ocean, and the project will be executed in Yeosu-si, Jeollanam-do, South Korea. The contract amount and final settlement may be subject to change as the project progresses.