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Investment agreement signed for Nam Dinh thermal power plant

A consortium of investors, including Taekwang Power and Aowa Power, signed an investment agreement for the Nam Dinh 1 Build-Transfer-Operation (BOT) thermal power plant in Ha Noi, Vietnam.

The US$2 billion project would use domestic coal from the Vietnam National Coal and Mineral Industries Group (Vinacomin). The plant would have two turbines with total capacity of 1200 MW in the northern Nam Dinh Province.

Minister Vu Huy Hoang said the project has a vital role in the Viet Nam's power master plan 7.

It is intended that the project could ensure electricity supply for the province and northern localities as well as national energy security.

Speaking at the signing ceremony, Daejoo Jun, South Korean ambassador to Vietnam, said this is the first project that sees the participation of a South Korean private firm. It was the reason why the project would receive support from the Government, he said, and added that this could be an opportunity for South Korean businesses investing in Vietnam.

The province said they would assist investors in granting the investment licence, financial arrangement and land clearance for the project's commencement by the middle of this year.

The plant is expected to become operational by 2020.

Source: WOrldCOal