Central Vietnam thermal power project receives mammoth equipment import package
The first shipment of equipment for the Quang Trach 1 thermal power project, a 1,200-MW coal-fired plant, arrived at the central province of Quang Binh's oil-gas port on Monday.
The shipment included 2,300 tons of parts for a giant boiler. The $1.86 billion project was listed in the National Power Development Plan VII (PDP VII) and the newly-approved PDP VIII.
Construction began in December 2021, and the plant, with a designed output of 8.4 billion kWh a year, is expected to start operating its first and second turbines in June 2025 and December 2025, respectively.
State utility Vietnam Electricity (EVN) is the investor in the project, providing 30% of the capital, while the rest will come from loans. In June 2021, EVN signed an engineering, procurement and construction (EPC) contract with a consortium of Japan’s Mitsubishi Corporation, South Korea’s Hyundai Engineering and Construction (Hyundai E&C), and Vietnam’s Construction Corporation No.1 (CC1).
According to the PDP VIII, six coal-fired power plants are under construction in Vietnam, namely Na Duong 1, An Khanh-Bac Giang, Vung Ang II, Quang Trach I, Van Phong I, and Long Phu I. Van Phong I is the largest with a capacity of 1,432 MW.
EVN said it will continue to reduce power supply in the northern region due to persistent hot weather and low water levels in hydropower reservoirs, but will try to minimize the impact on customers. In a report submitted to the government on Friday, EVN said it will still have to cut off electricity in the North until reservoirs are replenished. The power cuts are estimated at 2,000-2,500 megawatts, about 20-30% lower than the average cuts in the first days of June and half of the peak daily cut level of 5,000 MW.
To alleviate the problem, 24 coal-fired power plants in northern Vietnam pledged to optimize their resources and stabilize operations at a meeting with EVN on Monday. Electricity sales in the northern region increased by 5.72% to 7.29 billion kWh in May, according to EVN Northern Power Corporation.
EVN and its subsidiaries EVN Power Generation Corporation 1 (EVN Genco 1), EVN Genco 2, and EVN Genco 3 account for 38.4% of all the power generation capacity in Vietnam. The rest is generated by build-operate-transfer (BOT) investors, independent power producers, renewable energy power plants, and others.
- Read More
Major industrial park developer Kinh Bac suffers setback with $3 mln Q1 loss
Vietnamese industrial park developer Kinh Bac Urban Development Corporation recorded Q1/2024 losses of VND76.7 billion ($3 million), a setback considering its annual profit target of VND4,000 billion ($157.8 million).
Industrial real estate - Wed, May 1, 2024 | 3:51 pm GMT+7
Founder of Vietnam’s ACB bank passes away
Asia Commercial Bank founder Tran Mong Hung, father of the current chairman Tran Hung Huy, passed away Thursday. He was 72.
Banking - Wed, May 1, 2024 | 3:37 pm GMT+7
Singapore Management University opens office in HCMC
Singapore Management University (SMU) has chosen to open a representative office in Vietnam after Indonesia and Thailand as part of its vision to 2025.
Companies - Wed, May 1, 2024 | 3:18 pm GMT+7
Exhibition displays 300 artefacts of Dien Bien Phu Campaign
The thematic exhibition named "Dien Bien Phu Victory - An Eternal Epic" showcases some documentaries and artefacts for the first time to the public about Dien Bien Phu Campaign.
Travel - Wed, May 1, 2024 | 3:02 pm GMT+7
Six dead as boiler explodes at southern Vietnam wood factory
Six persons including a Chinese national died and five others were injured after a boiler exploded Wednesday morning at a wooden products factory in Vinh Cuu district, Dong Nai province.
Society - Wed, May 1, 2024 | 2:55 pm GMT+7
Trungnam Group eyes green energy development in Ninh Thuan province
Private Vietnamese conglomerate Trungnam Group plans to develop a green energy complex with an expected green hydrogen capacity of 824,400 tons per year in the south-central province of Ninh Thuan.
Energy - Wed, May 1, 2024 | 11:37 am GMT+7
S Korea's Jeil E&C to invest $35 mln in southern Vietnam high-tech logistics project
Jeil E&C, a major South Korean construction-real estate business, will invest $35.4 million in a high-tech logistics project in Dong Nai province - an industrial hub in southern Vietnam.
Industries - Wed, May 1, 2024 | 9:34 am GMT+7
Brewer giant Habeco posts biggest quarterly loss in 4 years
Habeco, among the top four brewers in Vietnam by market share, suffered a net loss of VND21 billion ($828,570) in the first quarter of 2024, up nearly sixfold from the same period last year.
Companies - Wed, May 1, 2024 | 7:00 am GMT+7
Retailer Mobile World Q1 profit rises 43 times after reshuffle
Mobile World Investment Corporation (MWG) reported an after-tax profit of nearly VND903 billion ($35.63 million) in the first quarter of 2024, a 43-fold increase year-on-year, according to the company’s financial statements.
Companies - Tue, April 30, 2024 | 9:09 pm GMT+7
Vietnam welcomes 6.2 mln foreign arrivals in Jan-Apr, 3.9% above pre-pandemic level
Vietnam welcomed over 6.2 million foreign tourists in the first four months of this year, up 68.3% year-on-year, the General Statistics Office reported.
Travel - Tue, April 30, 2024 | 3:32 pm GMT+7
April 30 Victory – Glorious milestone in national history
The Liberation of the South Day (April 30) is an occasion of great significance for all Vietnamese people.
Politics - Tue, April 30, 2024 | 3:10 pm GMT+7
$32 mln ecotourism project inaugurated in central Vietnam
Hang Gop Ecology Tourism JSC, a subsidiary of FVG Group, inaugurated its VND800 million ($31.56 million) Dong Giang Heaven Gate ecotourism project in Vietnam’s central province of Quang Nam on Sunday.
Travel - Tue, April 30, 2024 | 2:00 pm GMT+7
Dien Bien Phu Campaign's historic 3D panorama painting to be exhibited in Hanoi
The impressive 3D panorama painting showcasing the Dien Bien Phu Campaign, which captivates visitors at the Dien Bien Phu Victory Museum in the northern province of Dien Bien, will now be exhibited in Hanoi using 3D mapping technology.
Travel - Tue, April 30, 2024 | 12:59 pm GMT+7
HCMC ready for spectacular fireworks display to celebrate national holidays
Ho Chi Minh City is getting ready for a spectacular fireworks display at five different locations to celebrate the Reunification Day on the night of April 30.
Travel - Tue, April 30, 2024 | 12:56 pm GMT+7
Vietnam’s FDI sector posts $16.64 bln trade surplus in Jan-Apr
Foreign-invested enterprises in Vietnam recorded a trade surplus of $16.64 billion in the first four months of 2024, with crude oil activities factored into account, according to the General Statistics Office.
Economy - Tue, April 30, 2024 | 11:50 am GMT+7
Vietnam attracts $9.27 bln in registered FDI from Jan-Apr, Ba Ria-Vung Tau top recipient
Registered foreign direct investment (FDI) in Vietnam reached $9.27 billion in the year to April 22, while disbursed FDI hit $6.28 billion, the highest figure in the last five years.
Economy - Tue, April 30, 2024 | 10:43 am GMT+7