HA NOI (VNS) — A Japanese and South Korean consortium has successfully bid to invest in and operate a powerful coal-fired thermal power station in Nghi Son, the central province of Thanh Hoa.
The 1,200MW plant will be built under the BOT (Build-Operate–Transfer) model with a total investment expected to reach VND48 trillion (US$2.3 billion).
The consortium consisting of the Korean Electric Power Corporation (Kepco) and the Japanese Marubeni Corporation will set up a joint-venture company to build the power plant by 2018, after which they will operate it for 25 years before handing it over to Viet Nam.
The cost of the $2.3 billion project will be supplied by South Korea's Eximbank and the Japan Bank for International Co-operation through project financing.
The pair of investors plan to hand over the engineering, procurement and construction of the plant to the Doosan company, which will gradually complete the construction and equip it with a turbine, power generator and boiler, manufactured and installed by Doosan Korea and Doosan Vina.
Speaking at the ceremony announcing the project's investors, Deputy Minister of Industry and Trade Le Duong Quang called on the consortium to quickly finalise the contract and proposal to ensure that work begins on schedule.
He also expressed his confidence that Doosan will well accomplish the project following their effective work on a similar plant in Mong Duong. — VNS