The first phase of a new liquefied natural gas (LNG) power plant in Quang Tri province has received the official go-ahead from local authorities.
|A consortium of T&T Group, Korea Gas Corporation (KOGAS), Hanwha Energy Corporation, and Korea Southern Power (KOSPO) would build Hai Lang LNG project in Quang Tri province |
On October 8, Quang Tri People's Committee approved the first phase of the Hai Lang LNG power plant with an investment of VND54 trillion ($2.35 billion) to a consortium of Vietnam’s conglomerate T&T Group, Korea Gas Corporation (KOGAS), Hanwha Energy Corporation, and Korea Southern Power (KOSPO).
Both domestic and foreign investors would be actively involved in this project to ensure commercial operation in 2026-2027, in accordance with the prime minister's approval in Document No.154/TTg-CN dated February 4, 2021, with a total capacity of 1,500MW.
Specifically, T&T Group would provide 40 per cent of the investment capital and the three South Korean groups would contribute the remaining 60 per cent. This could mark an important milestone to develop Quang Tri as a major energy hub by 2030.
The project, which spans 120ha, is located in Hai Lang district's Hai An and Hai Ba communes. The project would include an LNG port capable of handling LNG carriers ranging in size from 170,000 to 226,000 cubic meters, carrying 1.5 million tonnes of LNG per year, and Hai Lang Power Centre phase 1 with a capacity of 1,500MW, according to local newswire VNA.
In addition, the project will play an important role in reducing environmental effects and greenhouse gas emissions, as well as ensuring sustainability.
"We put our faith in T&T Group and the South Korean partners," stated Vo Van Hung, Deputy Secretary of Quang Tri Party Committee, and Chairman of Quang Tri People's Committee.
"With an appealing investment environment and favourable mechanisms, Quang Tri province has become one of the places drawing a significant number of domestic and foreign investors," said Do Quang Hien, chairman and general director of T&T Group. "The project was authorised in less than eight months while adhering to all legal requirements. This will be an international effort with long-term development implications, which contribute to national energy security and encourage import and export turnover between Vietnam and the rest of the globe, including LNG power.”
Hanwha Energy has been operating the KN Cam Lam and Cam Lam VN solar power plants in Khanh Hoa province since 2019. Besides, the company acquired a 10 per cent stake in Bamboo Capital Group in June 2019 to set a solid foot in the solar power sector in Vietnam.
Regarding KOGAS, the company is working with Energy Capital Vietnam – a US-based company to develop a 3,600MW LNG complex power plant in the Mui Ke Ga area in Binh Thuan province.