The Government of Vietnam has agreed in principle to assign the Korean investor Posco Energy ,Energy consultant in Vietnam to research and develop the Quynh Lap II thermal power plant project under the form of a BOT contract.
Under the direction of the Government, the Ministry of Industry and Trade will be responsible for working with Posco Energy to agree on a number of key issues related to the development of the Quynh Lap II BOT thermal power plant project, in which ensuring not to pollute the environment. On that basis, the Posco Energy’s proposal will be approved to direct the implementation of the next steps in accordance with the law of Vietnam.
Quynh Lap II thermal power plant project is designed with a total capacity of 1,200MW, including 2 machine units. The project is expected to be built in Quynh Lap commune, Dong Hoi Industrial Zone – Hoang Mai town, on an area of 171 ha and 37 ha of water surface. The expected total investment of the project is nearly 2.5 billion USD.
Previously, Posco Energy has also invested Mong Duong II thermal power plant in the form of BOT in Quang Ninh.
In Vietnam, foreign investors are also very interested in BOT thermal power plant projects. For example, the typical projects are Vung Ang 2, Van Phong 1, Quang Tri 1… However, due to slow investment procedures, not many projects have been granted investment certificates and gone into deployment.