Tata to develop huge thermal power plant in Vietnam

Tata PowerIndia’s largest private thermal power producer Tata Power on November 20 signed an agreement with Vietnamese government for setting up a 1,320 MW thermal plant in the Southeast Asian nation, the Press Trust of India reported.

The pact was signed at a meeting with Prime Minister Manmohan Singh and General Secretary of the Communist Party of Vietnam Nguyen Phu Trong, who is currently on a visit to India. The project, consisting of two units of 660 MW each is likely to come up at an investment of over $1.6 billion.

“The project will be designed, engineered, procured, contracted, constructed, owned, operated and maintained through a company owned by Tata Power and additional investors, with Tata Power as the lead member and will reach commercial operation in accordance with agreements with the Vietnam side,” Tata Power said in a statement.

Meanwhile, a memorandum of understanding between the two ministries of finance of India and Vietnam was also signed. The MoU will permit the parties to strengthen exchanges and share experiences in the fiscal policies for transitional economies, macro-economic management, budget management process, financial policies to support high technology and software technology development.



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India's largest private thermal power producer Tata Power on November 20 signed an agreement with Vietnamese government for setting up a 1,320 MW thermal plant in the Southeast Asian nation, the Press Trust of India reported. The pact was signed at a meeting with Prime Minister Manmohan Singh and General Secretary of the Communist Party of Vietnam Nguyen Phu Trong, who is currently on a visit to India. The project, consisting of two units of 660 MW each is likely to come up at an investment of over $1.6 billion. "The project will be designed, engineered, procured, contracted, constructed, owned,...

Tata PowerIndia’s largest private thermal power producer Tata Power on November 20 signed an agreement with Vietnamese government for setting up a 1,320 MW thermal plant in the Southeast Asian nation, the Press Trust of India reported.

The pact was signed at a meeting with Prime Minister Manmohan Singh and General Secretary of the Communist Party of Vietnam Nguyen Phu Trong, who is currently on a visit to India. The project, consisting of two units of 660 MW each is likely to come up at an investment of over $1.6 billion.

“The project will be designed, engineered, procured, contracted, constructed, owned, operated and maintained through a company owned by Tata Power and additional investors, with Tata Power as the lead member and will reach commercial operation in accordance with agreements with the Vietnam side,” Tata Power said in a statement.

Meanwhile, a memorandum of understanding between the two ministries of finance of India and Vietnam was also signed. The MoU will permit the parties to strengthen exchanges and share experiences in the fiscal policies for transitional economies, macro-economic management, budget management process, financial policies to support high technology and software technology development.



Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

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Donation Total: $10.00

 

 

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