Duyen Hai 2 BOT contract signed

December 30, 2015 | 11:41

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On December 29, the Ministry of Industry and Trade and Malaysian Teknik Janakuasa Group signed the build-operate-transfer (BOT) contract to build Duyen Hai 2 thermal power plant in the southern province of Tra Vinh.

The plant would have the total investment capital of $2.4 billion, including 80 per cent of loans, and two turbines with the total capacity of 1,200 megawatts. It is the second biggest foreign invested project licensed in 2015 in terms of investment capital, after the $3 billion project of Samsung Display Vietnam in the northern province of Bac Ninh.

The project was licensed in September 2015. However, negotiations over development have been going since 2009. The developer is currently finalising financial arrangements to start the construction on schedule, in the second quarter of 2016.

The plant, which is expected to go on stream before 2020, will be one of the four thermal power plants in Duyen Hai Power Centre. The remaining plants invested by the Electricity of Vietnam Group (EVN) with the total investment capital of $6 billion are Duyen Hai 1, Duyen Hai 3, and Duyen Hai 3 extension.

Once completed, the power centre will contribute to the national power grid an additional capacity of 30 billion kWh annually, which plays an important role in ensuring the energy security for the southern region in the 2015-2020 period and subsequent years.

To date, the Ministry of Industry and Trade has managed over 20 large-scale BOT thermal power projects across the nation with the total generation capacity of 4,200MW, according to the ministry’s reports. Among those, Phu My 2.2 and Phu My 3 plants in the southern province of Ba Ria-Vung Tau and the first generator of Mong Duong 2 plant in the northern province of Quang Ninh are operational.

By By Ha Vy

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