VinaCapital seeks to invest in Long An thermo-power centre

14-Jul-2020 Intellasia | The Saigon Times | 6:02 AM Print This Post

The VinaCapital Group is planning to inject some $3.5 billion into the Long An Province’s liquefied natural gas (LNG)-fire thermal power centre, according to a plan for the facility submitted to the government for consideration and approval.

Le Minh Duc, director of the Long An Department of Industry and Trade, told The Saigon Times that the government had allowed the province to convert its coal-fired power centre to one that uses LNG.

However, whether the investor is selected to finance the project or not will depend on the prime minister’s final decision, he noted.

The plan for the project mapped out by VinaCapital, which had suggested investing in the conversion scheme, had been approved by the Ministry of Industry and Trade, Duc said.

Apart from the conversion, the capacity of the Long An-based power facility will be raised to 3,000 megawatts instead of the 2,800 MW designated for the coal-fired power plant.

VinaCapital had earlier been tasked with completing the project adjustment process, conducting a feasibility study for the project, preparing environmental impact assessment reports and completing related legal procedures.

Under the province’s proposal, the Long An power centre includes Long An 1 and 2 LNG-fired thermal power plants, with the first one set to be put into operation in 2025 and the other in 2026.


Category: Business, Vietnam

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