Bidding cancelled for proposed $2.4 billion Nghi Son LNG power plant

October 16, 2024 | 17:55

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Authorities at Nghi Son Economic Zone have cancelled an invitation to bid, and halted the selection of investors, for the Nghi Son liquefied natural gas (LNG)-fired thermal power plant project.

Bidding cancelled for proposed $2.4 billion Nghi Son LNG power plant

Nghi Son 1 and Nghi Son 2 thermal power plants. Source: Thanh Huong

Nghi Son Economic Zone Management Authority had invited five consortiums to participate in bidding for the implementation of the project in August, but following the September 16 Decree No.115/2024/ND-CP, which concerns the selection of investors for projects using land under the Law on Bidding, the organisers will now have to redraft new documents to match with the new decree.

The five investors previously invited to bid include a joint venture between JERA and Sovico, and a consortium of Korea Southern Power Company, Korea Gas Corporation, Daewoo Engineering & Construction Group, and Anh Phat Construction and Trading Investment.

The three others were Gulf Energy Development, SK E&S Co., Ltd., and a joint venture between PetroVietnam and T&T Group.

Located in Nghi Son town, the project was expected to cost over $2.4 billion, with a 50-year implementation period and commercial operation slated before 2030. The minimum equity capital requirement for investors was set at $362.5 million.

The project will span 68 hectares and include a 1,500MW LNG power plant, a 1km sea barrier, a port, along with the necessary supporting infrastructure.

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By Thanh Huong

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