HANOI, Dec 17: Vietnam on Saturday awarded an investment licence to a consortium of Tokyo Gas, Kyuden International and Truong Thanh Group to build a US$1.99-billion LNG-fired power plant in its northern province of Thai Binh.
The licence was awarded to the companies in Tokyo during a visit to Japan by Vietnamese Prime Minister Pham Minh Chinh to attend a Japan-Asean summit, the government said in a statement.
The 1.5-gigawatt power plant is one of a fleet of 13 LNG-fired plants with a combined capacity of 22.4 GW that Vietnam aims to develop by 2030.
The MoU was signed early this week at the Asia Green Growth Partnership Ministerial Meeting (AGGPM) in Japan. It was one of the 12 Asian projects selected by the AGGPM organizers for signing in the presence of delegates.
The proposed project, carried out in Thai Binh province, is in Vietnam's draft power development plan VIII for the 2021-2030 period, with vision until 2045. However, the plan, better known as PDP VIII, has not been approved yet.
After PDP VIII is promulgated, projects named in the plan will select investors for implementation.
Even when investors are selected and awarded investment certificates, these are only the initial steps in the implementation process and does not guarantee the projects will smoothly come online.
© 2024 - All Rights with The Financial Express
