Toyota Tsusho eyes Vietnam's power plant investment
14-APR-2008 Intellasia | Thanhniennews
Apr 14, 2008 - 7:00:00 AM
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Toyota Tsusho Corp., a Japanese trading house, may set up a joint venture with a Vietnamese state-run company to build a coal-fired power plant in the country, Dow Jones reported.
The project is based in the central Quang Ngai Province, around 850 kilometres (530 miles) south of Hanoi.
Toyota is aiming to join Vietnam's Vinacomin group to invest in the project with an estimated cost of US$2.8 billion, Dow reported, citing an Electricity of Vietnam official it didn't identify.
Electricity of Vietnam is the state-owned national utility.
The project is expected to use 5 million tons of coal a year, which Toyota or Vinacomin will supply.
The government will hold a tender offer to select the investors and contractors, the news service said, citing the official.
The Southeast Asian country's power demand is expected to grow by 16% a year in the next decade.
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