Doosan Heavy Industries & Construction Co., Ltd. (KOSE:A034020) said it will expedite its plan to combat its credit crunch with proceeds worth KRW 2.2 trillion ($1.9 billion) from the brisk asset sale by Doosan Corporation (KOSE:A000150). "Doosan Heavy will speed up its self-rescue plan by pushing for the sale of Doosan Engineering & Construction Co., Ltd. and its stake in Doosan Infracore Co., Ltd. (KOSE:A042670), along with the plan to sell its new shares worth KRW 1.3 trillion," a company official said on condition of anonymity. Doosan Heavy wholly owns Doosan Engineering and has a 36% stake in Doosan Infracore.

Sales manager Credit Suisse is reported to have invited preliminary bids for the 36% stake in Doosan Infracore on September 28, 2020.