Source: Business Korea
POSCO Energy Co. will start another coal-fired thermal power project in Vietnam once again.
The nation’s leading energy producer announced on May 11 that it has gained the license from the Vietnamese government to build and operate a coal-fired thermal power in Quynh Luu district of the Nghe An Province. It will be the company’s second coal-fired plant in the South East Asian country after Mong Duong Ⅱ coal-fired thermal power plant in Quang Ninh Province that it completed construction and started operations in October 2015.
The new Quynh Lap Ⅱ coal-fueled power plant will be built in the industrial complex in Dong Hoi of the Nghe An Province in northern central Vietnam, about 270 kilometers away from Hanoi. The plant will have an annual production capacity of 1,200 megawatts (MW), with two 600 MW reactors. The new power plant project will be conducted on a build, operate and transfer (BOT) contract where POSCP sells power produced at the plant to state-run Vietnam Electricity (EVN) for 25 years after construction, and transfer the ownership to the government.
POSCO Energy plans to conduct feasibility test and strike related contracts on the new Quynh Lap Ⅱ coal-fueled power plant. It will also break ground in 2022 and complete construction by 2026.
After officially announcing to the Vietnamese government about its intention to invest in the new Quynh Lap Ⅱ coal-fueled power plant in September 2015, POSCO Energy has been continuously persuading officials at the central government along with officials at the local government in its bid to be named the BOT contractor.
In the process of the new plant project, the Nghe An provincial government is planning to create the industrial complex for heavy industries by attracting steel, machinery and cement producers. It also expects the new Quynh Lap Ⅱ coal-fueled power plant to feed enough power to the special district.