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29/07/2020 - 15:26

Thua Thien Hue:

USD 6 billion invested in liquefied natural gas power project in Chan May-Lang Co economic zone

With the total investment estimated at USD 6 billion, the project is expected to create breakthroughs in the domestic energy sector, stimulate vigorous economic development and job creation in the era after COVID-19, and contribute to the growth of trade and investment relations between Vietnam and the US.

Signing memorandum of investment for Chan May LNG Gas Power Plant project

On the afternoon of July 22, 2020, within the framework of the Vietnam Energy Summit 2020, the signing ceremony of a cooperation agreement was taken place between the People's Committee of Thua Thien Hue Province and Chan May LNG Joint Stock Company on research and development investment in the project at Chan May - Lang Co Economic Zone.

This is a liquefied natural gas (LNG) power plant project invested and developed by Chan May LNG Joint Stock Company located in Chan May - Lang Co Economic Zone, Thua Thien Hue province, with a total capacity of 4,000MW. The project has private investment (IPP), with 60% US ownership and the rest 40%, of Vietnam. It is expected that when coming into operation, the plant will provide an average power output of 24-25 billion kilowatt hours per year.

Vietnam Energy Summit 2020

Mr. Tran Si Chuong, Chairman of the Board of Chan May LNG Company, said that this project was particularly interested in the US media (including The New York Times, Bloomberg ...) because it has received the pledge to provide all capital and loans from major investors from the US, the IFC's financial investment division of World Bank, and US government agencies that are responsible for supporting US citizens and businesses to invest abroad.

The investors have been ready to cooperate with the world's leading partners from the United States and Japan in the fields of engineering, technology, environmental management, construction, operation, etc... Right after the project being approved by the Government, they will immediately deploy the project. Thua Thien Hue Province is working closely with the investors to bring the project into reality soon, in 2024 as expected.

By Nguyen Dinh (VietTimes)