Petrovietnam proposes eco-energy, industrial center project in Mekong Delta

Petrovietnam has proposed building an eco-energy, industrial center in Can Tho city that features a clean energy complex, petrochemicals-refinery, logistics, a modern terminal, an HR training and research center, and an ecological urban area.

The state giant presented its proposal at a meeting with the Can Tho People's Committee on Wednesday.

The center will be built on basis of integrating many types of clean energy and new energy, forming a model that features a power center, green chemicals, and high-tech services, connecting with the agricultural strengths of the Mekong Delta, a company representative explained.

Petrovietnam proposed the O Mon and Nam Song Hau areas as optional project locations.

The project is expected to attract $3.4 billion in investment by 2030 and generate $2.3 billion in revenue per year. The figures by 2050 are $15 billion and about $5.6 billion.

It is also expected to create tens of thousands of jobs, promote labor restructuring in Can Tho city and the Mekong Delta region, ensure on-site energy security, and pioneer the circular economic model towards net-zero emission.

Can Tho, with its advantage of being at the heart of the Mekong Delta, is "very suitable" for the oil and gas group to implement the project, the representative added.

In response, Tran Van Lau, Chairman of the Can Tho People's Committee, noted that Petrovietnam's proposal is very suitable for the needs and development orientations of the city.

"Petrovietnam needs to complete its research to report to the city's leaders before September 15," he added.

Lau suggested two optional locations: the Song Hau Thermal Power Center and the O Mon Thermal Power Center.

"The locations have been planned and are suitable for the city's energy use targets. But the investor can propose other locations."

Petrovietnam needs to proactively coordinate with relevant agencies to agree on the scale of construction and project location, providing basis to include the project in the city's general planning, he added.

On July 23, on Petrovietnam's website, chairman Le Manh Hung stated that the oil and gas giant is studying a large-scale eco-energy and industrial center project in the country which will be a vital driving force of the group's future development and "a matter of survival".

"This is not only a requirement from the reality of energy transition, but also a practical solution for Petrovietnam to create new growth momentum, in line with the development trend of the global energy industry," he added.

According to the government's Resolution No. 38/NQ-CP, Vietnam will form three large-scale energy centers in Ba Ria-Vung Tau province (now part of Ho Chi Minh City), Quang Ngai province (now the new Quang Ngai after the merger of Kon Tum and Quang Ngai), and Thanh Hoa province, along with other dynamic regions such as Ca Mau, Can Tho, Quang Ninh, Ninh Thuan (now part of Khanh Hoa province), Binh Thuan (now part of Lam Dong province), Quang Tri, Hai Phong, and Nghe An.