Binh Thuan province certifies investors in LNG-to-power projects
Binh Thuan authorities granted investment certificates to six investors in four projects within the LNG-to-power chain in the south-central Vietnam province on Friday.
The chain, located in Son My 1 Industrial Park, includes the Son My LNG Terminal project, Son My power center project, a project to connect the Son My power center to the national grid, and the Son My-Phu My gas pipeline project.
The investors are PV Gas, a subsidiary of state-owned Petrovietnam; the U.S.’s AES; France’s EDF; Japan’s Kyushu and Sojitz; and Vietnam’s Pacific Corporation.
Binh Thuan Chairman Doan Anh Dung speaks at a conference to welcome investors of the Son My LNG-to-power project chain in the south-central province on August 4, 2023. Photo courtesy of PV Gas.
Binh Thuan province also has two LNG-to-power plant projects - Son My 1 and Son My 2. Those two projects have a total capacity of 4,500 MW and an investment of $4 billion.
At the event, Binh Thuan authorities granted an investment certificate to the Son My LNG Terminal project. The terminal has an installed capacity of 450 TBtu and is expected to begin commercial operations in 2027, including supply of LNG for the two power plants.
Speaking at the ceremony, Binh Thuan Chairman Doan Anh Dung said the project chain would help implement Vietnam’s strategy of energy diversification via imported LNG and net-zero emission commitment made at COP 26.
President of AES Vietnam Joseph Uddo said AES has been investing in Vietnam’s energy sector for over 12 years and will continue helping the country’s energy transition.
AES is the investor of the Son My LNG Terminal project and the 2,250 MW-Son My 2 combined cycle gas turbine power plant project in Binh Thuan. The terminal, to be built by a joint venture between AES and PV Gas, has an investment of $1.4 billion.
AES officially received in-principle approval for the $1.8 billion Son My 2 power plant on February 5.
The 2,250 MW Son My 1, under build-operate-transfer (BOT) format, is invested by EDF, Kyushu, Sojitz, and Pacific Corporation. It has an investment of between VND47,464 billion and VND48,457 billion ($2-2.04 billion), depending on the inclusion of an electricity delivery station.
- Related News
- Read More
VietinBank seeks to divest entire stake in Hai Phong Port via public auction
VietinBank (HoSE: CTG) plans to divest its entire stake in state-controlled Hai Phong Port (UPCoM: PHP) through a public auction on the Hanoi Stock Exchange (HNX), potentially raising nearly VND278 billion ($10.57 million).
Companies - Thu, July 9, 2026 | 5:10 pm GMT+7
Starlink begins taking orders in Vietnam, first-year service costs $1,190
Starlink, the satellite internet service operated by Elon Musk’s SpaceX, has released pricing and started accepting orders in Vietnam, with first-year costs estimated at about VND31.4 million ($1,190).
Companies - Thu, July 9, 2026 | 4:09 pm GMT+7
Masan High-Tech Materials partners with S Korea’s GBI on tungsten processing
Masan High-Tech Materials (UPCoM: MSR), the mining unit of Vietnamese conglomerate Masan Group (HoSE: MSN), has entered into a strategic partnership with South Korea’s GB Innovation (GBI) to process Korean tungsten concentrate into higher-value products in Vietnam, strengthening a non-Chinese tungsten supply chain.
Companies - Thu, July 9, 2026 | 3:51 pm GMT+7
Idemitsu Kosan expands energy ecosystem in Vietnam
After more than three decades of operations in Vietnam, Japan’s Idemitsu Kosan is further expanding its energy ecosystem with a biomass pellet plant project in the central province of Gia Lai.
Industries - Thu, July 9, 2026 | 1:43 pm GMT+7
Two banks to list on Ho Chi Minh City bourse, expand charter capital
Vietnam's private banks Vietbank and BVBank are finalizing the last steps to transfer their trading from the unlisted public company market UPCoM to the Ho Chi Minh Stock Exchange (HoSE), while simultaneously implementing plans to increase their charter capital.
Banking - Thu, July 9, 2026 | 11:51 am GMT+7
Strong Q2 earnings, lower interest rates to bolster Vietnam stocks
Strong second-quarter corporate earnings and declining interest rates are expected to support Vietnam's stock market in the coming months, brokerage firms said, as the market moves beyond a period of limited news flow and enters a more favorable phase driven by improving fundamentals.
Finance - Thu, July 9, 2026 | 8:00 am GMT+7
Wistron raises construction, equipment investment in northern Vietnam province to $178 mln
Taiwanese technology firm Wistron has increased its investment in factory construction and equipment in Ninh Binh province to $178.27 million, adding $24.5 million to expand its facilities at Kim Bang Industrial Park.
Industries - Wed, July 8, 2026 | 7:56 pm GMT+7
Sun Group targets groundbreaking for $624 mln urban projects in central Vietnam this year
Vietnam's leading developer Sun Group aims to begin construction of two urban projects worth a combined VND16.4 trillion ($623.78 million) in the central province of Quang Ngai by the end of 2026, while also advancing plans for a new expressway linking the province with the Central Highlands.
Real Estate - Wed, July 8, 2026 | 4:54 pm GMT+7
Vietnam raises airport number target to 36 by 2030 as aviation demand surges
Vietnam plans to expand its airport network to 36 airports by 2030, up from the previous target of 30, under a revised national aviation infrastructure plan aimed at catering for rising passenger demand and boosting regional connectivity.
Infrastructure - Wed, July 8, 2026 | 4:45 pm GMT+7
Germany's VFT Bio Fuels UG eyes $3.1 bln green steel complex in southern Vietnam
Vietnamese industrial park developer IMG Phuoc Dong and Germany’s VFT Bio Fuels UG have signed a memorandum of understanding to study the development of a $3.1 billion green steel complex in the southern province of Tay Ninh.
Industries - Wed, July 8, 2026 | 4:25 pm GMT+7
Vietnam police minister urges Yamato Holdings to study investment in Gia Binh airport
Vietnam’s Minister of Public Security Luong Tam Quang has called on Japan’s Yamato Holdings to assess investment opportunities in warehousing and cargo transport systems at Gia Binh International Airport, while exploring potential cooperation and operational models with Vietnamese partners once the facility becomes operational.
Infrastructure - Wed, July 8, 2026 | 3:09 pm GMT+7
Vietnam real estate M&A favors quality, clear legal status assets as FDI priorities evolve
Vietnam's real estate M&A market continued to attract foreign capital in the first half of 2026 despite persistent global economic uncertainties, but foreign investors are increasingly targeting assets with clear legal status, stable cash flow, and strong operational performance, with data centers emerging as a key growth segment.
Real Estate - Wed, July 8, 2026 | 1:38 pm GMT+7
Central Vietnam hub Danang plans to tokenize nearly $4 bln in infrastructure projects to attract global capital
The Vietnam International Financial Center, located in the central city of Danang (VIFC Danang), plans to tokenize nearly $4 billion worth of infrastructure projects as part of a strategy to attract more global capital.
Economy - Wed, July 8, 2026 | 12:17 pm GMT+7
Computers, smartphones edge higher in price as AI memory boom tests Vietnam's ICT firms
Rising memory chip prices driven by artificial intelligence are spreading from semiconductor manufacturers to consumer electronics brands such as Apple, Dell and ASUS, pushing up the prices of computers and smartphones.
Companies - Wed, July 8, 2026 | 8:00 am GMT+7
LG Innotek to build $1 bln semiconductor substrate plant in northern Vietnam
South Korea's LG Innotek will spend $1 billion to build a semiconductor package substrate manufacturing plant in Hai Phong city, with mass production scheduled to begin in the third quarter of 2028, according to local authorities.
Industries - Tue, July 7, 2026 | 11:13 pm GMT+7
Malaysia’s JLand eyes up to $6 bln high-tech hub in Hanoi
Malaysia’s JLand Group has proposed developing a high-tech, innovation and data center complex in Hanoi with an estimated investment of $4-6 billion, as Vietnam’s capital seeks to attract technology projects and strengthen its digital infrastructure.
Infrastructure - Tue, July 7, 2026 | 4:26 pm GMT+7
