Central Vietnam province cancels $2.4 bln LNG power plant bid, to open again
Vietnam’s central province of Thanh Hoa has canceled the bidding for the $2.4 billion Nghi Son LNG-fired power project due to updated legal frameworks, said Thanh Hoa Vice Chairman Nguyen Van Thi.
Thi made the statement at the Ministry of Industry and Trade’s Tuesday conference on energy supply in 2025-2030.
He clarified that the project received in-principle approval from the government in March 2024 and bidding documents were issued in July 2024, with a target of selecting investors in November. However, the progress was disrupted as the government’s Decree 115/2024 on bidding for projects with lands came into effect in mid-September.
Thanh Hoa Vice Chairman Nguyen Van Thi (standing) speaks at an online conference on January 7, 2025. Photo courtesy of Thanh Hoa newspaper.
Thanh Hoa province is now updating the bidding documents and aims to open the bidding again on January 15, prior to the Electricity Law 2024’s enforcement date (February 1, 2025).
Thi urged the Ministry of Industry and Trade and state utility Vietnam Electricity (EVN) to soon issue rules on ceiling prices of electricity to help the bidding process.
According to the July 2024 bidding documents, Nghi Son LNG-fired power plant has a capacity of 1,500 MW, using combined cycle gas turbine technology (CCGT).
Located to the south of Nghi Son port in Thanh Hoa province, the project will cover 68.2 hectares, including 64.2 hectares for the power plant, a warehouse, a regasification system and a wharf; and four hectares for a ship anchoring zone. It is set to become operational by 2030.
Five bidders are a consortium between Japan’s Jera and Vietnamese local firm Sovico; a consortium between Korean companies KOSPO, KOGAS, Daewoo E&C, and Vietnamese firm Anh Phat Investment Construction - Trading JSC; Thailand’s Gulf Energy; South Korea’s SK E&S; and a consortium between PV Power and Hanoi-based T&T Group.
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