RoK firm to build 4.5 bln USD power plant in Nam Dinh

The Taekwang Group from the Republic of Korea is planning to build a 4.5 billion USD coal-fired power plant in the Red river province of Nam Dinh .

The group signed with the Ministry of Industry and Trade a Memorandum of Understanding on the construction of the plant in Hanoi on March 30 witnessed by the RoK Ambassador to Vietnam , Park Suk Hwan.

The 2,400-MW power plant will be built in the communes of Hai Chau and Hai Ninh in Hai Hau district under the build-operate-transfer (BOT) model.

In the first phase, running from 2016-2017, the project will construct two 600 MW turbine groups. Two other 600 MW turbines will be built from 2020-2021.

The Vietnam National Coal-Mineral Industries Group (Vinacomin) will be responsible for providing coal for the plant during the first phase.

To carry out the project, the RoK group has set up a joint venture between the Taekwang Vina Company, which holds 95 percent of the total capital, and the Hoang Anh Shipbuilding Industry Company (Hashinco).

Speaking at the signing ceremony, Deputy Minister of Industry and Trade Le Duong Quang asked the joint venture to promptly complete necessary procedures to speed up the tempo of the project.

He also requested that Nam Dinh authorities work closely with the ministry to resettle local residents and clear the project site for the investor./.

Vietnamplus

Tags: The Taekwang Group in Vietnam, Vietnam energy, Vietnam power plants

Posted by VBN on Mar 31 2010. 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