Gulf Energy Development proposed to invest $7.8 billion in the Ca Na LNG project in Ninh Thuan province for the second time, showing its determination to develop the project.
|Gulf needs to compete with other investors for the Ca Na projects (Illustration image, source: PetroVietnam) |
Gulf Energy Development (Gulf) from Thailand plans to develop a liquefied natural gas (LNG) warehouse and gas-fired power complex with the total capacity of 6,000MW in Ca Na commune, Thuan Nam district. The construction may be implemented under the build-operate-transfer (BOT) model.
According to Pham Van Hau, deputy chairman of the Ninh Thuan People’s Committee, Gulf is seeking approval for the planning of Ca Na power centre. Once the planning is approved, the province will issue criteria to select investors for the project and Gulf is one of the potential investors.
It is not the first time that Gulf expressed interest in developing the project. Previously, in November 2018, the group participated in a working session with provincial leaders to discuss a plan to invest in a gas-to-power complex with the capacity of 6,000MWand build a sea port with the capacity of 6 million tonnes per year.
In the same month, Total Group from France and representatives of the Ninh Thuan People’s Committee signed an agreement to study to develop the Ca Na power complex with the total capacity of 4,500MW.
Accordingly, Total will co-operate with Siemens, Vovatek (Russia), and Vietnam A&A Technology and Investment Co., Ltd. to invest in the Ca Na power complex with the total investment capital of $1.2 billion.
Gulf keeps an eye on numerous projects in Vietnam. Notably, in April 2018, Gulf and TTC Group established the joint venture TTC Green Energy Investment JSC (Gulf holds 49 per cent) to build a solar power plant in Trang Bang district of Tay Ninh province.
Covering an area of 78.42 hectares, the projecthas a total investment capital of $66 million and the capacity of 48MW. It is expected to start operations in June this year.