Quynh Lap LNG-fired power project in central Vietnam seeks in-principle approval

The $2.15 billion Quynh Lap LNG-fired power project, located in Nghe An province, is drawing significant interest from both international and domestic investors.

In a talk with The Investor, Le Tien Tri, head of the management board at Southeast Nghe An Economic Zone, added that the project is undergoing a process to acquire in-principle approval. After that, investor selection through bidding will take place.

Located in Quynh Lap commune, Hoang Mai township, Quynh Lap is one of 14 priority gas-fired power projects included in the National Power Development Plan VIII, set for investment through 2030.

It will have a total capacity of 1,500 MW with two 750 MW turbines, utilizing combined cycle gas turbine (CCGT) technology. The project also includes an LNG import terminal, storage, regasification facilities, and synchronized technical infrastructure.

The facility is expected to import approximately 1.15 million tons of liquefied natural gas (LNG) annually.

The total estimated investment is $2.15 billion. This will cover the power plant, LNG storage, a receiving terminal, breakwaters, and other auxiliary infrastructure across a site of 210 to 360 hectares. The terminal will be capable of handling vessels of up to 100,000 DWT.

The plant is projected to begin commercial operations before 2030. Once operational, it will be connected to the national grid via the 500 kV Quang Trach-Quynh Luu-Thanh Hoa transmission line or may alternatively connect to the Nghi Son LNG-fired power plant.

In addition to its contribution to national energy security, the Quynh Lap project is expected to stimulate growth in construction and service industries, elevate the local industrial base, and support Nghe An’s goal of achieving double-digit economic growth.

It will also drive demand for labor, construction materials, logistics, and related sectors, generating broader economic benefits for the locality.

According to Tri, the project will provide a major boost to the development of Dong Hoi Industrial Park and contribute significantly to Nghe An’s socio-economic advancement.

"At present, the infrastructure at Dong Hoi Industrial Park is not really synchronized. Therefore, the immediate priority is the development of the Quynh Lap LNG power plant, followed by infrastructure upgrades at Dong Hoi Seaport and the development of other factories in processing, manufacturing, and vocational training,” he said.

Tri noted that while the industrial park spans 600 hectares, only about 400 hectares will be directly impacted by the power plant.

Pham Van Hoa, director of Nghe An’s Department of Industry and Trade, emphasized that the plant will not only ensure a stable energy supply for the locality, but also accelerate the province’s industrialization and modernization efforts.

Furthermore, by using cleaner LNG fuel instead of coal, the project aligns with Vietnam’s COP26 commitments to sustainable development and greenhouse gas reduction.

“Although the project is still in a process to acquire in-principle approval and hasn’t yet contributed to industrial growth for 2025, it is already bringing significant economic advantages. It creates momentum to attract both domestic and foreign investment, particularly in the energy and industrial sectors. This is a crucial factor in helping Nghe An achieve its 2025 growth target of 10.5%,” said Hoa.