Ca Na LNG power project in central Vietnam awarded to Trung Nam-Sideros River consortium

Khanh Hoa authorities have approved the Trung Nam-Sideros River consortium as the winning bidder for the VND57.38 trillion ($2.2 billion) Ca Na LNG-fired power project in the central province.

Under a decision issued by the Khanh Hoa People's Committee on Wednesday, the consortium will develop a 1,500 MW LNG power plant in Ca Na commune, alongside an LNG import terminal with annual capacity of 1-1.2 million tons and related auxiliary facilities.

The planned land use area is about 265.7 hectares, including around 33.4 ha for the LNG power plant and technical corridors, while water surface area of roughly 232.3 hectares will be used for LNG storage and regasification facilities.

These include one LNG storage tank with capacity of about 220,000 cubic meters, LNG pipelines, an LNG import terminal, an eastern breakwater extending 2,400 meters, and other port infrastructure.

Project scale will be recalculated after completion of all construction and land-related procedures, the decision said.

The winning electricity tariff was set at VND3,294.22 ($0.13) per kilowatt-hour.

Construction is scheduled to be completed and the plant put into operation before December 31, 2030. The project will have an operating term of 50 years from the date the investor is granted land use or land lease rights.

During contract negotiations and project implementation, the consortium is required to commit sufficient equity and debt financing, submit additional documentation related to Power China’s experience in operations and maintenance of similar projects, complete consular legalization procedures, and agree on key milestones to facilitate monitoring of project progress.

The investor must also commit to completing construction and commencing operations by the end of 2030, in line with the bid documents and tender requirements.

Khanh Hoa’s Department of Industry and Trade has been tasked with negotiating the project contract with the investor, submitting it to the provincial government for signing, publicly disclosing the bidding results, and implementing the project in accordance with Decree No. 115/2024/ND-CP, Decree No. 56/2025/ND-CP and other relevant regulations.