Central Vietnam province to clear sites for LNG projects in May, for operation in 2028

By Tri Duc
Tue, March 18, 2025 | 12:36 pm GMT+7

Vietnam’s south-central province of Binh Thuan aims to complete site clearance for major LNG power plant projects by May 15, towards operation in 2028.

Nguyen Hoai Anh, chief of Binh Thuan's Party Committee, made the site clearance requests for three projects, namely Son My I power plant, Son My II power plant, and Son My LNG terminal, at a Monday meeting.

Nguyen Hoai Anh, chief of Binh Thuan's Party Committee, speaks at a meeting in Binh Thuan province, south-central Vietnam, March 17, 2025. Photo courtesy of Binh Thuan news portal.

Nguyen Hoai Anh, chief of Binh Thuan's Party Committee, speaks at a meeting in Binh Thuan province, south-central Vietnam, March 17, 2025. Photo courtesy of Binh Thuan news portal.

The 2028 deadline is in line with the government’s request of speeding up the progress of LNG-fired power projects towards completion and operation in 2028, earlier than the deadline specified in the power development plan VIII (PDP VIII).

The $1.34 billion Son My LNG terminal was given an in-principle nod by provincial authorities in 2023. The 3,500-hectare project serves as the storage site for Son My I and Son My II power plants and is set to enter operation in the first quarter of 2027.

So far, local authorities have completed the approval of site clearance for 60.77 out of 69.01 hectares requested for the projects, or 99.06%.

A 70,000 ton LNG tanker. Photo courtesy of PV Gas.

A 70,000 ton LNG tanker. Photo courtesy of PV Gas.

The 2,250 MW Son My II was given in-principle approval by the Ministry of Industry and Trade in 2022 per public-private partnership (PPP) format.

Covering 93.5 hectares, the $2.1 billion project is now finalizing a feasibility study report for submission to the Ministry of Industry and Trade, towards operation in 2028.

The project is invested by the United States-headquartered AES.

The 2,250 MW Son My I received an in-principle nod from the trade ministry in 2021 per build-operate-transfer (BOT) format. Covering 88.3 hectares, the $2.2 billion project is now submitting a feasibility study report to the ministry for approval, towards operation in 2028.

The project is invested by France’s Electricite de France SA (EDF), Japan’s Sojitz and Kyushu Electric Power, and Vietnam’s Pacific Corporation.

Comments (0)
  • Read More
Vietnam-US issue joint statement on Reciprocal Trade Agreement Framework

Vietnam-US issue joint statement on Reciprocal Trade Agreement Framework

Vietnam and the United States on October 26 issued a joint statement on the Framework for a Balanced and Fair Reciprocal Trade Agreement after many months of negotiations.

Economy - Sun, October 26, 2025 | 9:28 pm GMT+7

MBBank achieves sustainable growth in 9 months, leads digital transformation

MBBank achieves sustainable growth in 9 months, leads digital transformation

Hanoi-based MBBank recorded positive growth across scale, efficiency, and asset quality in the first nine months of the year, underscoring its strong internal resilience amid continued volatility in the financial market.

Banking - Sun, October 26, 2025 | 5:38 pm GMT+7

Vingroup to develop 6,300 ha urban complex project in Congo

Vingroup to develop 6,300 ha urban complex project in Congo

Vietnam's leading private conglomerate Vingroup (HoSE: VIC) and the government of Kinshasa, the capital of the Democratic Republic of the Congo (DRC), will jointly explore and develop a 6,300-hectare riverfront mega-urban project.

Real Estate - Sun, October 26, 2025 | 12:57 pm GMT+7

Vietnam’s Ministries of Foreign Affairs, Natural Resources & Environment, and Home Affairs have new heads

Vietnam’s Ministries of Foreign Affairs, Natural Resources & Environment, and Home Affairs have new heads

Le Hoai Trung was appointed on Saturday as Minister of Foreign Affairs, Tran Duc Thang as Minister of Natural Resources and Environment, and Do Thanh Binh as Minister of Home Affairs.

Politics - Sun, October 26, 2025 | 11:22 am GMT+7

Intel eyes shifting more production to Vietnam   

Intel eyes shifting more production to Vietnam  

U.S. chipmaker Intel plans to shift its assembly, packaging, and testing operations from its Costa Rica facility to potential markets such as Vietnam, said Kenneth Tse, general director of Intel Products Vietnam.

Industries - Sun, October 26, 2025 | 9:05 am GMT+7

Vietnam's securities regulator seeks to expand institutional market participation

Vietnam's securities regulator seeks to expand institutional market participation

The State Securities Commission of Vietnam (SSC) is preparing a comprehensive package of measures to allure more institutional investors to the stock market, which currently sees up to 85-90% of total transaction value come from retail investors.

Finance - Sun, October 26, 2025 | 8:00 am GMT+7

VAFIE, Nghe An province tax authority help businesses update new tax policies

VAFIE, Nghe An province tax authority help businesses update new tax policies

The Vietnam's Association of Foreign Invested Enterprises (VAFIE) and the Nghe An province Tax Department on Friday co-hosted a tax policy workshop titled “New tax policies impacting business operations and accounting standards under IFRS.”

Companies - Sat, October 25, 2025 | 7:28 pm GMT+7

Vietnam parliament okays appointing 2 new Deputy Prime Ministers

Vietnam parliament okays appointing 2 new Deputy Prime Ministers

Vietnam's legislature has approved Prime Minister Pham Minh Chinh's proposal to appoint Ho Quoc Dung, former Party chief of Gia Lai province, as Deputy Prime Minister, while Pham Thi Thanh Tra, a Party Central Committee member, became the country's first female Deputy Prime Minister.

Politics - Sat, October 25, 2025 | 6:32 pm GMT+7

Foxconn unit ShunYun injects extra $15 mln into northern Vietnam subsidiary

Foxconn unit ShunYun injects extra $15 mln into northern Vietnam subsidiary

ShunYun Technology Co., a subsidiary of Taiwanese electronics giant Foxconn, has announced an additional $15 million investment into its Vietnamese arm in the northern province of Bac Ninh, according to a filing with the Taiwan Stock Exchange.

Industries - Sat, October 25, 2025 | 4:57 pm GMT+7

DNP Water, Samsung E&A launch $69 mln inter-regional water project in Vietnam’s Mekong Delta

DNP Water, Samsung E&A launch $69 mln inter-regional water project in Vietnam’s Mekong Delta

A subsidiary of Vietnam’s water supplier DNP Water and South Korea’s Samsung E&A have broken ground on a VND1.82 trillion ($69.2 million) inter-regional raw water infrastructure project in the Mekong Delta, marking a major step toward improving the region’s water security.

Infrastructure - Sat, October 25, 2025 | 4:50 pm GMT+7

Vietnam’s bond market heats up as major corporates return

Vietnam’s bond market heats up as major corporates return

Vietnam’s corporate bond market is regaining momentum as large conglomerates join banks and brokerages in successful issuances.

Finance - Sat, October 25, 2025 | 9:33 am GMT+7

Decentralization and the potential for multi-center urban development in HCMC’s satellite areas

Decentralization and the potential for multi-center urban development in HCMC’s satellite areas

If managed well, urban decentralization and multi-center development can ease housing pressures in central HCMC and usher in a more balanced growth phase for the southern region's residential market, write Avison Young Vietnam analysts.

Real Estate - Sat, October 25, 2025 | 8:00 am GMT+7

Chinese firm proposes its 3rd waste-to-power plant in Vietnam

Chinese firm proposes its 3rd waste-to-power plant in Vietnam

China’s EverBright Environment has proposed investing about VND1.6 trillion ($60.82 million) in a waste-to-energy plant in the central province of Quang Tri.

Energy - Fri, October 24, 2025 | 8:45 pm GMT+7

Mega golf-commercial-urban complex proposed for southern Vietnam city Can Tho

Mega golf-commercial-urban complex proposed for southern Vietnam city Can Tho

Vietnam Royal Investment Group JSC has proposed developing a 766-hectare golf-service-commercial-urban complex in the Mekong Delta city of Can Tho.

Real Estate - Fri, October 24, 2025 | 4:31 pm GMT+7

Sumitomo makes first hydropower investment in Vietnam

Sumitomo makes first hydropower investment in Vietnam

Sumitomo Corporation has made its first hydropower investment in Vietnam by acquiring a 49% stake in Mekong Electric Power Engineering and Development JSC which owns the 48 MW Dak Di 1 & 2 run-of-river hydropower project in Danang city.

Energy - Fri, October 24, 2025 | 3:42 pm GMT+7

Investors urge Vietnam to fix legal hurdles to LNG power projects

Investors urge Vietnam to fix legal hurdles to LNG power projects

A group of investors in Vietnam’s gas-fired power sector has urged the country's parliament to address regulatory gaps that have stalled multi-billion-dollar LNG and domestic gas-fueled power projects, warning that delays could derail the country’s energy transition targets.

Energy - Fri, October 24, 2025 | 2:12 pm GMT+7