Quang Tri calls for investors in the terminated $2.35 billion thermal power plant

May 02, 2023 | 22:03

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Quang Tri People’s Committee has proposed solutions for alternative investment capital for the $2.35 billion thermal power plant, which currently faces termination.

Quang Tri calls for investors in the terminated $2.35 billion thermal power plant. Source: Hung Tho

Quang Tri People’s Committee is proposing that the government and the Ministry of Industry and Trade keep the $2.35 billion Quang Tri thermal power plant in the latest draft of the Power Development Plan VIII, which will be submitted to the prime minister for approval in May.

The province is waiting for the government’s approval to switch from using coal as the source material to a more environmentally friendly fuel, such as gas. This forms the basis for calling for new potential investors in the project.

According to Standing Deputy Chairman of Quang Tri People's Committee Ha Sy Dong, switching the fuel for the project is a solution to avoid waste. The rescuing project will also help to ensure the province’s long-term growth.

“To prepare the ground for the project, the province spent almost $11 million building a 50-hectare resettlement area to remove households from the project zone. Thus, removing the project from the plan would cause considerable losses from the province’s budget,” Dong said.

In mid-April, the Electricity Generating Authority of Thailand announced the termination of the Quang Tri thermal power project after over a decade of construction delays.

According to a local media source, if the government approves changing the fuel for the project, the investor will consider continuing to manage the project because using a new fuel other than coal would make it easier to access international loans.

However, Dong said that it has been half a month since the province asked the investors to issue an official document about the cancellation that details what work the province had completed for the project. The investor has yet to reply.

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