$1.99 bln LNG power plant in central Vietnam to break ground late this year

The Quang Trach II LNG-fired power plant in central Vietnam, with an investment of VND52.49 trillion ($1.99 billion), is slated to break ground by the end of this year and generate 9 billion kWh of electricity.

The project was converted from a 1,200 MW coal-fired power project worth VND48.16 trillion ($1.83 billion), which received the Prime Minister’s in-principle approval in 2021 with state utility Vietnam Electricity (EVN) as investor.

It was originally planned at the Hon La Economic Zone in the Quang Trach Power Center, Quang Binh province (now Quang Tri). Quang Binh was recently merged with neighboring Quang Tri to form the new Quang Tri province.

The adjustments, made to align with the National Power Development Plan VIII issued in May 2023, shift the project to gas in a bid to curb toxic emissions and protect the environment.

After the conversion, the project will have a capacity of 1,500 MW with a total investment of over VND52.49 trillion ($1.99 billion), with 20% funded by equity and 80% by loans.

To serve the Quang Trach II LNG power plant, the project will include construction of an LNG berth able to accommodate 100,000 DWT vessels, equivalent to 218,000 cubic meters of LNG, along with a 250,000-cubic-meter LNG storage tank.

Its first turbine is targeted to start generation in Q4/2028, the second in Q1/2029, and full completion in 2030, according to the Power Project Management Board 2 under EVN.

The project can help ensure stable power supply for the northern region through Circuit 3 line of the national power grid, easing the power shortage in some areas.

It can also promote LNG-fired power in Vietnam, especially for imported products from the United States, Australia, Qatar, and Malaysia.

EVN proposes two other major thermal power projects in Quang Tri

Chairman of the Quang Tri People’s Committee Tran Phong has instructed the provincial Economic Zone Authority to work with relevant agencies on advising the province in selecting or assigning an investor for the Quang Trach III LNG power plant project, in line with Vietnam’s Electricity Law and bidding regulations.

The move comes as EVN seeks approval to take charge of this project, with a proposal to be submitted to the Prime Minister.

The plant is planned in Phu Trach commune, Quang Tri province, with a capacity of 1,500 MW using regasified imported LNG. It’s slated to operate in 2031-2035 to supply power to northern Vietnam.

The other is the Quang Tri Thermal Power Plant project. Earlier in 2025, Power Generation Corporation 1 (EVNGENCO1), a unit of EVN, sent a proposal to Quang Tri authorities seeking approval to take the lead on this project.

The project carries an investment of more than VND55 trillion ($2.08 billion) at 1,320 MW, comprising two 660 MW units.

EVNGENCO1 targets groundbreaking in Q3/2027, with both units scheduled to begin commercial operations in Q4/2030.

The project was originally approved in August 2013 for development under the build-operate-transfer (BOT) model by EGATi, a wholly-owned subsidiary of the Electricity Generating Authority of Thailand.

However, on July 3, 2024, the Ministry of Industry and Trade officially agreed to EGATi’s request to withdraw from the project. As of that date, all contractual and legal obligations between EGATi and the ministry were nullified.

The project is now listed among delayed coal-fired power projects in the National Power Development Plan VIII due to shareholder changes and financing challenges.

Under Decision No. 500/QD-TTg (issued May 15, 2023) and Decision No. 262/QD-TTg (issued April 1, 2024), Prime Minister Pham Minh Chinh instructed relevant ministries to reassess such projects and consider termination if progress was not made by June 2024.

Following EGATi’s exit, EVNGENCO 1 submitted a formal request on February 7, 2025 to be assigned as the new project investor. The company had also met with Quang Tri’s leadership on February 6, 2025 to present its proposal.