Vietnam: Nghi Son 2 thermal power plant to be kicked off by year-end

Vietnam: Nghi Son 2 thermal power plant to be kicked off by year-end

It was announced by the investor, namely the consortium of Japanese company
Marubeni Corporation and Korea Electric Power Corporation (KEPCO), at the
working session between the investors and representatives of Japan Bank for
International Cooperation (JBIC), Export-Import Bank of Korea (K-Eximbank),
and leaders of the Thanh Hoa People's Committee.

Earlier in June, the Ministry of Planning and Investment granted the
investment certificate for the investor. Accordingly, Nghi Son 2 is the
first international tender for a large-scale coal-fired power plant in
Vietnam. The project is going to be carried out under the
build-operate-transfer (BOT) format.

The $2-billion plant will be located in the province's Nghi Son Economic
Zone. It will have a capacity of 1,200 megawatts, produced by two units of
600MW each.

Once completed, the consortium will operate the thermal power plant for 25
years before handing ownership over to the Vietnamese state.

By July 28, 2011, three tenders including EDF, Marubeni-Kepco, and Suez
Tractebel-Mitsui, had submitted bid offers for this project. In 2013, former
Prime Minister Nguyen Tan Dung issued a decision allowing the Ministry of
Industry and Trade to offer Marubeni-Kepco Consortium the BOT contract.

The consortium of Marubeni-Kepco held a ground-breaking ceremony of the Nghi
Son 2 power plant in September 2015, with its first turbine expected to come
online in September 2019. The plant is projected to be fully operational the
following year.

This project is Marubeni's first international partnership programme (IPP)
business in Vietnam. In addition to supplying power plant facilities, which
account for approximately 20 per cent of Vietnam's total generation
capacity, Marubeni intends to expand its IPP business in Vietnam and take
part in the development of power generation facilities to support economic
growth, the firm stated on its website.

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Link to Original Article:
http://www.vir.com.vn/nghi-son-2-thermal-power-plant-to-be-kicked-off-by-yea
r-end.html

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John Diecker
APT Consulting Group Co., Ltd.

www.aptthailand.com