Work to begin on $2.5b thermal plant

Update: February, 18/2014 - 09:45
A view of the Vung Ang 1 thermo-power plan in central Ha Tinh Province. Preparations are underway to break ground on its successor, Vung Ang 2. — VNA/VNS Photo Ha Thai

HA NOI  (VNS) — Japan's Mitsubishi Corporation is making the final preparations before the ground breaking for the Vung Ang 2 thermo-power plant in the central province of Ha Tinh in June 2014.

This was stated by the deputy head of the Vung Ang Economic Zone management board, Ngo Dinh Van, who told Viet Nam News yesterday that the Ministry of Planning and Investment would soon grant the investment registration certificate to the US$2.5 billion project.

The Mitsubishi Corporation has begun the site clearance for the power plant, designed to have a capacity of 1,320MW and two turbines. It will be built on 42 hectares in Ky Anh District, next to the Vung Ang 1 thermo power plant, under the build-operate-transfer form.

The plant's turbine 1 is expected to begin operations by 2018.

Meanwhile, Samsung Corporation from South Korea has signed a memorandum of understanding to invest in the Vung Ang 3 thermo power plant, which has 2,400-MW capacity.

"Samsung Corporation has been completing procedures to ask for the investment registration certificate," said Van.

According to the Ministry of Planning and Investment's Foreign Investment Agency, Ha Tinh Province had 53 foreign direct investment projects at the end of 2013, totally valued at nearly $11 billion. — VNS