PetroVietnam steps up electric cooperation with RoK company

The Vietnam National Oil and Gas Group (PetroVietnam) has signed a series of memorandum of understanding on cooperation in power projects with the Pohang Iron and Steel Company (POSCO) of the Republic of Korea (RoK).

At the signing ceremony in Hanoi on July 19, POSCO’s representative said the group hopes to cooperate with PetroVietnam in developing available power projects to ensure stable electricity provision.

Besides a number of new power projects POSCO has drawn up in Vietnam, the group wishes to expand its investment in steel production in the southern province of Ba Ria-Vung Tau, the representative said, adding that POSCO is now running a cold rolled steel factory in the province.

The cooperation will effectively help the two groups in setting up, operating and managing POSCO’s power projects, the RoK group said.

As the investor, PetroVietnam is calling for foreign cooperation in five thermal power projects worth US$6 billion, with a total capacity of 6,000 MW, including Thai Binh 2, Song Hau 1, Vung Ang 1, Long Phu 1 and Quang Trach 1.

Tags: PetroVietnam, POSCO

Posted by VBN on Jul 20 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