Jaks Resource gains $2.25 billion power plant licence

Malaysia’s Jaks Resource Bhd has just received an investment certificate for its $2.25 billion coal-fired power plant in northern Hai Duong province after years of discussion.

The 1,200 megawatt plant will be the fourth power project in Vietnam invested in by a foreign independent power investor, following Phu My 3, Phu My 2.2 and Mong Duong 2.

According to the investment certificate, Jaks Resource will have 15 months to arrange finance for the project. The first turbine will be built during in 42 months.

Once completed, the project will help ease severe electricity shortages in Vietnam that are negatively affecting domestic and foreign manufacturers’ operations in this country.

Jaks Resources was founded in 1987 with a principle engagement in water supply construction and manufacturing of mild steel pipes. It is also active in infrastructure construction projects, land development and international and domestic trading of construction-related products. – VIR

Tags: Jaks Resource

Posted by VBN on Jul 8 2011. Filed under Energy. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry