Central Vietnam province plans to build $2.4 bln LNG power plant from 2031
The 4,800-MW Chan May LNG power plant, with an investment of $2.4 billion, can be deployed in 2031-2035, according to Thua Thien Hue authorities.
The provincial industrial zone-economic zone authority said the project will serve as a backup plan for other energy projects which cannot be deployed or miss their deadline.
The deployment of Chan May LNG power project is subject to the progress of exploiting gas from Ken Bau gas field, offshore the neighboring province of Quang Tri, according to the provincial authority.
As a result, local authorities will continue to study the Chan May LNG power plant project, located in Chan May-Lang Co Economic Zone of the central province.
A corner of Chan May-Lang Co Economic Zone, Thua Thien Hue province, central Vietnam. Photo by The Investor/Dinh Duy.
Chan May LNG power plant is an independent power producer (IPP) project, not using the state budget. Vietnam holds a 40% stake and the United States side holds the remaining 60%. It is set to generate 24-25 billion kWh a year.
The project is mentioned in the power development plan VIII (PDP VIII) and Thua Thien Hue masterplan, both for 2021-2030 with a vision to 2050.
Vietnam currently has no LNG-to-power plants. Nhon Trach 3 and Nhon Trach 4, Vietnam’s first LNG-to-power plants, is set to begin commercial operations in June and September 2025, respectively, according to project investor PV Power.
- Related News
- Read More
Former Netflix HR leader joins Vietnam-based consultancy Newing as strategic advisor
Ho Chi Minh City-based Newing, a consulting firm specializing in leadership development and organizational transformation, is expanding its global network of experts to support Vietnamese enterprises, with Shweta Shukla, former Netflix HR executive, appointed as strategic advisor.
Companies - Tue, July 22, 2025 | 2:37 pm GMT+7
Malaysia’s EV adoption rate projected to reach 9.6% by year-end
The adoption rate of electric vehicles (EVs) in Malaysia may reach 9.6% by the end of this year, supported by the introduction of new models and growing consumer interest, according to Malaysian Automotive Association (MAA) president Mohd Shamsor Mohd Zain.
Southeast Asia - Tue, July 22, 2025 | 1:41 pm GMT+7
Malaysia strengthens position in global hydrogen ecosystem
Malaysia’s first solid-state hydrogen reactor, the HyPEReactor, has been launched at the Orang Asli Settlement of Pos Tibang.
Southeast Asia - Tue, July 22, 2025 | 1:39 pm GMT+7
Vietnam's SHB bank okayed to expand charter capital to $1.76 bln
Saigon-Hanoi Bank (SHB) has received approval from Vietnam's central bank to raise its charter capital to VND45.942 trillion ($1.76 billion) after issuing a 13% share dividend, maintaining its position among the Top 5 largest private banks in Vietnam.
Banking - Tue, July 22, 2025 | 12:45 pm GMT+7
Update of typhoon Wipha in northern Vietnam: Hanoi likely to see thunderstorms in the next 2 hours
In addition to causing heavy rain and deep flooding in Thanh Hoa and Ninh Binh provinces, typhoon Wipha can cause tornadoes, lightning and strong gusts of wind in some areas of Hanoi, according to the National Center for Hydro-Meteorological Forecasting.
Society - Tue, July 22, 2025 | 10:18 am GMT+7
Vietnam’s BCG Energy aims for green energy comeback
BCG Energy JSC (UPCoM: BGE), a subsidiary of Vietnam's multi-sector corporation Bamboo Capital, plans to hold its 2025 AGM on August 14, staying ready for a comeback to the green energy race.
Companies - Tue, July 22, 2025 | 9:54 am GMT+7
Vietnam’s benchmark VN-Index expected to surpass historical highs after correction: expert
The VN-Index, representing the Ho Chi Minh Stock Exchange (HoSE), will establish a new base and potentially break through its historical peaks after a correction phase, said Tran Hoang Son, director of market strategy at VPBank Securities (VPBankS).
Finance - Tue, July 22, 2025 | 9:07 am GMT+7
Passion fruit, banana, pineapple, coconut could be Vietnam's next billion-dollar exports
Passion fruit, banana, pineapple, and coconut are emerging as Vietnam’s next billion-dollar export items, offering strong potential to diversify the country’s fruit and vegetable sector, experts told a recent forum held in Ho Chi Minh City.
Companies - Tue, July 22, 2025 | 8:53 am GMT+7
Keppel Land to entirely divest from Nam Long after a decade of being strategic shareholder
Ibeworth Pte Ltd, a company under Singapore's Keppel Land, on Monday announced that it will sell over 29.4 million Nam Long Group (HoSE: NLG) shares to restructure its portfolio.
Companies - Mon, July 21, 2025 | 11:24 pm GMT+7
Vietcomank proposes not to pay taxes on behalf of foreign entities without physical presence in Vietnam
Vietcombank, one of the Big 4 Vietnamese banks, has proposed removing a regulation that requires commercial banks to withhold and pay taxes on behalf of foreign organizations and individuals that earn income from commercial activities in Vietnam but do not have physical presence in the country.
Finance - Mon, July 21, 2025 | 8:54 pm GMT+7
Typhoon Wipha approaches Vietnam's coast, expected to trigger torrential rains, landslides
Typhoon Wipha, the third storm this year in Vietnam, is forecast to make landfall along the coast from Hai Phong city to Thanh Hoa province on Tuesday, bringing extreme rainfall to northeastern provinces as well as the mountainous regions of Thanh Hoa, Nghe An, and Ha Tinh.
Society - Mon, July 21, 2025 | 5:06 pm GMT+7
Vietnam's personal income tax brackets proposed to decrease from 7 to 5
Vietnam’s Ministry of Finance (MoF) has proposed reducing the number of personal income tax brackets from seven to five, while widening the income ranges for each bracket.
Finance - Mon, July 21, 2025 | 4:11 pm GMT+7
Vietnam's leading broker SSI appoints 37-year-old CEO
Chairman of SSI Securities Nguyen Duy Hung has called the appointment of Nguyen Duc Thong as new CEO "a strategic move aimed at propelling the company into a new phase of breakthrough development".
Companies - Mon, July 21, 2025 | 2:21 pm GMT+7
Vietnam fertilizer major PVFCCo approves massive bonus share issuance
After finalizing the record date for a 15% cash dividend, Petrovietnam Fertilizer and Chemicals Corporation (PVFCCo or Phu My Fertilizer), a subsidiary of state-owned Petrovietnam, will issue bonus shares at a striking rate of 73.74% on August 8.
Companies - Mon, July 21, 2025 | 12:37 pm GMT+7
New apartments under $2,300 per sqm gradually disappear in Vietnam
New apartments priced under VND40 million ($1,530) per square meter have completely disappeared from the markets of major Vietnamese cities in recent years, and now those below VND60 million ($2,295) are almost non-existent.
Real Estate - Mon, July 21, 2025 | 11:43 am GMT+7
Storm Wipha nears northern Vietnam with heavy rain, strong winds and flood risk
Tropical Storm Wipha (Storm No. 3) is closing in on northern Vietnam after entering mainland southern China early Sunday, bringing heavy rains, strong winds, and heightened risks of flash floods and landslides across large parts of the country.
Society - Mon, July 21, 2025 | 11:15 am GMT+7
