Japan is firmly behind glowing nuclear dream

The nuclear power projects will address Vietnam’s burning power shortages

The economic giant was  preparing financial sources to support Ninh Thuan province, home to the second nuclear power plant, in the building of social infrastructure in the project site, said Nakamura Hiro Hiko, president of the Special Committee on Official Development Assistance (ODA) of Japan’s National Diet.

Nakamura last week visited Vietnam to confirm Japan’s consistent support to Vietnam’s socio-economic development and the promotion of trade and investment ties.

Prime Minister Nguyen Tan Dung also asserted that the Vietnamese side was accelerating exchanges with Japanese partners to boost the $7.4 billion project.

In late October, 2010, the Vietnamese government decided to choose Japan to help build the second nuclear power plant in the country, which will have two reactors and is scheduled to come online during 2024-2025.

Construction of the first nuclear power project in Vietnam, also located in the central coastal province of Ninh Thuan, was awarded to Russia.

In another effort to win a contract to build the second plant in Vietnam, Japan’s Hitachi Group last week revealed it would set up a nuclear power project promotion office in Vietnam from early January, 2011.

Although the Vietnamese government agreed in principle about the participation of the Japanese firms in the development of its second nuclear power project, it has not yet decided on the company to provide technology for the plant.

Hitachi is a partner of the International Nuclear Energy Development of Japan Co. Ltd (JINED), set up by 13 Japanese leading companies in mid October, 2010, which will engage in activities supporting nuclear power plant projects in emerging countries.

For Japanese companies, Vietnam will be the first overseas market to export nuclear power technology, promising a huge potential as the country has planned to have a total of 13 nuclear power projects in the next decades.

A part of the second nuclear project will be funded by Japanese ODA.

Japan’s ambassador to Vietnam Yasuaki Tanizaki recently confirmed that both sides would push forward a Japan-Vietnam nuclear power cooperation agreement in the  near future.

Japan was the second biggest partner committing ODA for Vietnam in the 2010 fiscal year with more than $1.6 billion, after the World Bank with $2.5 billion and before the Asia Development Bank with $1.4 billion.