Vietnam to select investor for $2.5 bln Nghi Son LNG power plant by October (updated)

DAEWOO ENGINEERING & CONSTRUCTION

21/08/2024 06:44

(Adds details and context)
       HANOI, Aug 21 (Reuters) - 
    Authorities in Vietnam's Thanh Hoa province plan to select
an investor through a bidding process by October to develop a
$2.5 billion LNG-fired power plant, a provincial official said
on Wednesday.
  
    The Nghi Son LNG Power Plant in the province's Nghi Son
Economic Zone would have a designed capacity of 1.5 gigawatts
and would start commercial operations by 2030. 
    "The bids will be opened on September 30 and the name of the
investor will be announced mid or late in October," said Nguyen
Anh Tuan, deputy director of the zone.
    The project would also include an LNG terminal and storage,
and regasification facilities, Tuan added.
        State media reported in March that five consortiums have
been chosen as potential investors, including Korea Southern
Power  KEPCOS.UL , Korea Gas Corp  036460.KS , Daewoo
Engineering & Construction  047040.KS , Gulf Energy Development
 GULF.BK , SK E&S  SKENS.UL , and some Vietnamese companies.
  
        Electricity-hungry Vietnam wants to have 13 LNG power
plants with combined capacity of 22.4 GW by 2030, but is 
    unlikely to meet
     that target as power producers and foreign investors balk
at the country's strategy for making the super-chilled fuel
affordable.
  


 (Reporting by Khanh Vu; Editing by Kim Coghill and Nivedita
Bhattacharjee)
 ((khanh.vu@thomsonreuters.com; +84 24 38259623;))