$2.5B thermal power plant goes online in central Vietnam

By VNA   March 14, 2024 | 05:53 am PT
$2.5B thermal power plant goes online in central Vietnam
The Van Phong 1 BOT thermal power plant in Khanh Hoa Province in central Vietnam. Photo by VnExpress/Nguyen Thi Phuong
The Van Phong 1 BOT Thermal Power Plant was inaugurated in the central province of Khanh Hoa on Wednesday to supply an additional 8.5 billion kWh per year, or 3% of the electricity output nationwide.

The project, located in the Van Phong Economic Zone, is the largest project invested by Sumitomo Corporation of Japan in Khanh Hoa. The plant uses ultra-supercritical technology, with modern equipment, ensuring high efficiency while meeting strict environmental standards.

Addressing the inauguration ceremony, Chairman of the provincial People’s Committee Nguyen Tan Tuan highlighted the significance of the plant, saying that it will help attract investment into the Van Phong EZ, promote local industrial development, create momentum for the economy of Khanh Hoa and the south-central region, generate numerous job opportunities and contribute around VND1 trillion ($40.5 million) to the local budget a year.

He expressed his hope that Sumitomo Corporation and domestic and foreign enterprises will continue researching, proposing, and implementing new industrial, infrastructure, and service projects in the locality.

The provincial authorities commit to accompanying and providing comprehensive support to investors to achieve common goals, he affirmed.

Hirokazu Tsuru, General Director of Van Phong Power Company Limited, highly valued the assistance of Vietnam’s authorized agencies for the project, especially the reliable support and cooperation of the Electricity of Vietnam (EVN) in completing the 500 kV Van Phong – Thuan Nam transmission line and the Van Phong transformer station within a short period, as well as close coordination of EVN subsidiaries during the construction and testing phases of the plant.

The company is confident in its ability to contribute to Vietnam's socio-economic development through the plan's stable operation, he said.

With a total investment of nearly $2.58 billion, the Van Phong 1 BOT Thermal Power Plant comprises two turbines with designed capacity of 1,432 MW. The coal-fired thermal power plant was constructed under a BOT contract signed by the Ministry of Industry and Trade, and will be handed over to the Vietnamese Government after 25 years of operation.

The project is one of the works to celebrate the upgrading of the Vietnam-Japan relations to a comprehensive strategic partnership for peace and prosperity in Asia and the world.

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