PetroVietnam invests in O Mon III and IV thermal power plants

October 10, 2023 | 11:54

(0) user say

PetroVietnam has taken over the O Mon III and IV gas-fired power plants after a recent decision promulgated by Can Tho People’s Committee.

PetroVietnam invests in O Mon III and IV thermal power plants

According to Decision No.2093/QD-UBND and No.2094/QD-UBND from Can Tho People’s Committee, Vietnam Electricity (EVN) will hand over the two projects to PetroVietnam and collaborate with the new investor to complete the investment procedures.

PetroVietnam will oversee the construction of the two projects and ensure the nation benefits to the fullest.

PetroVietnam is responsible for implementing the transfer of investors to ensure the relevant legal regulations are met. It needs to carry out procedures in accordance with the Law on Investment.

EVN and PetroVietnam are both responsible for the usage of state capital at enterprises according to the provisions of the current law.

Can Tho People's Committee is not responsible for the transfer of public assets resulting from the change in investors.

O Mon III has an investment of VND25.2 trillion ($1.1 billion), of which VND9.93 trillion ($431.7 million) is reciprocal capital from EVN. The other 60 per cent is set to be sourced from Japanese official development assistance.

O Mon IV has a total investment of VND30 trillion ($1.3 billion), 20 per cent of which is self-arranged capital from EVN and 80 per cent comes from non-governmental guaranteed commercial loans.

Prime Minister hosts IMF’s Article IV consultation team

Prime Minister Pham Minh Chinh on June 29 received a delegation of the International Monetary Fund (IMF) headed by Sanjaya Panth, Deputy Director of the IMF’s Asia and Pacific Department, who are on a working trip in Vietnam for Article IV consultation.

Commitment made to bring Nghi Son LNG thermal power plant into operation in 2030

Japanese energy giant JERA is committed to bringing Nghi Son liquefied natural gas (LNG) thermal power plant into commercial operation by the end of 2030, helping to ensure energy security in the northern region and achieve Vietnam's commitment of reaching net-zero by 2050.

18 renewable energy power plants now online

According to recent data released by Vietnam Electricity (EVN), as of August 11, nearly 93 per cent of renewable-energy transition projects have submitted their profiles to the Power Purchase Department for price negotiations and power purchase agreement (PPA) consultations, a substantial achievement for just over three months of rigorous effort.

EVN to take over BOT Phu My 3 thermal power next year

The Ministry of Industry and Trade and the operator reached a compromise to transfer BOT Phu My 3 thermal power plant to EVN in March 2024 and BOT Phu My 2.2 in February 2025.

By Thanh Huong

What the stars mean:

★ Poor ★ ★ Promising ★★★ Good ★★★★ Very good ★★★★★ Exceptional