Tepco to invest in power plant in Vietnam – Nikkei

Japan’s Tokyo Electric Power Co (9501.T: Quote), or Tepco, will invest “tens of billions of yen” in a coal-fired power plant in Vietnam, expected to start operations in mid 2010s, the Nikkei business daily reported.

Tepco will sign a memorandum of understanding with Vietnam Oil and Gas Corp (Petro Vietnam) in Tokyo Tuesday, the daily said.

The Vietnamese state firm has asked Japanese utilities to invest in building four coal-fired facilities with an output capacity of 1.2 million kilowatts each and a hydroelectric plant, the paper reported.

The total cost of the project is estimated to be 840 billion yen ($9.26 billion) while the coal-fired plants are estimated to cost around 150 billion yen, it said.

The Vietnamese government plans to sell 49 percent to 79 percent interest in each of the facilities to foreign investors, the Nikkei reported.

reuters

Tags: Tepco, Vietnam energy