Korea, Japan to build $1.5b power plant in Vietnam

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coalState-owned Electricity of Vietnam, or EVN, has awarded a $1.5 billion contract to a consortium of South Korea’s Doosan Corp. and Japan’s Mitsubishi Corp., together with two local firms, to build a coal-fired power plant in southern Vietnam.

Construction of the 1,200-megawatt Vinh Tan 4 plant in Binh Thuan province will begin in the first quarter of 2014 and is scheduled for completion by the end of 2017, EVN said in a statement on December 23. The consortium will be responsible for designing, purchasing equipment and building the plant 250 kilometers north of Ho Chi Minh City, which will use imported coal, EVN said.

It added that 85 per cent of construction costs will be funded by loans from Korea Eximbank, Korea Trade Insurance Corp. and the Japan Bank for International Cooperation. The remaining 15 per cent will come from EVN.

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Reading Time: 1 minute

State-owned Electricity of Vietnam, or EVN, has awarded a $1.5 billion contract to a consortium of South Korea’s Doosan Corp. and Japan’s Mitsubishi Corp., together with two local firms, to build a coal-fired power plant in southern Vietnam.

Reading Time: 1 minute

coalState-owned Electricity of Vietnam, or EVN, has awarded a $1.5 billion contract to a consortium of South Korea’s Doosan Corp. and Japan’s Mitsubishi Corp., together with two local firms, to build a coal-fired power plant in southern Vietnam.

Construction of the 1,200-megawatt Vinh Tan 4 plant in Binh Thuan province will begin in the first quarter of 2014 and is scheduled for completion by the end of 2017, EVN said in a statement on December 23. The consortium will be responsible for designing, purchasing equipment and building the plant 250 kilometers north of Ho Chi Minh City, which will use imported coal, EVN said.

It added that 85 per cent of construction costs will be funded by loans from Korea Eximbank, Korea Trade Insurance Corp. and the Japan Bank for International Cooperation. The remaining 15 per cent will come from EVN.

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