Mitsubishi, Doosan to build 1,200 MW coal-fired power plant in Vietnam

Mitsubishi and Doosan, together with Vietnamese partners Power Engineering Consulting Joint Stock Co. 2 and Pacific Corporation, have entered into a contract to construct a new coal-fired power plant in southern Vietnam. The contract issued by state-owned Electricity of Vietnam (EVN) is valued at approximately $1.4 billion. EVN will provide about 15 percent of the costs to build the plant. EVN said funding for the remining 85 percent of the project will come from financing agreements with the Export-Import Bank of Korea, Korea Trade Insurance Corp. and Japan Bank for International Cooperation. 

The 1,200-megawatt Vin Tan 4 power plant will be composed of two 600 MW units and located in Binh Thuan province, about 150 miles north of Ho Chi Minh City. Construction will begin in the first quarter of 2014 with  completion expected by 2017 for the first unit and by 2018 for the second unit.

Electricity demand in Vietnam is expected to see a remarkable increase of more than 10% per annum in the coming years due to rising population and economic growth. Southern Vietnam in particular, the country's largest economic block, faces a critical situation in relation to the current imbalance between existing supply and the increasing demand for electricity. There is therefore urgent need for the development of power generation infrastructure in the region.

Currently, nearly half the country's electricity supply is generated by hydraulic power, but due to weather and other factors, the need for a more stable source of electricity is ever more present. This project, therefore, is expected to play an important role in preventing the shortage of electricity in the area.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...

Latest PennEnergy Jobs

PennEnergy Oil & Gas Jobs