State utility EVN seeks to operate $2.1 bln LNG-fired power plant in central Vietnam from 2028

By Tri Duc
Mon, March 24, 2025 | 2:24 pm GMT+7

State utility Vietnam Electricity (EVN) aims to operate the $2.1 billion Quang Trach II LNG-fired power plant in the central province of Quang Binh from 2028.

According to a recent project report, EVN strives to operate the first turbine of 750 MW from December 2028, and the second turbine of 750 MW from March 2029.

The power factory will utilize combined cycle gas turbine (CCGT) technology, with a high efficiency of 51-64% of the heat generation.

The design of Quang Trach II in Quang Binh province, central Vietnam. Photo courtesy of EVN.

The design of Quang Trach II in Quang Binh province, central Vietnam. Photo courtesy of EVN.

The power plant aims to serve the northern region and nearby areas, while reducing carbon emissions versus the output of coal-fired power.

EVN aims to complete all preparations for the project, including pre-feasibility study and feasibility study by May 2025. Then it plans to conduct “design, procurement, and construction” task for the first turbine in March 2026-September 2028, and for the second turbine in April 2026-November 2028.

The first and second turbines can enter trial operation in September-December 2028 and November 2028-February 2029, respectively, or three months each.

With a maximum capacity (Tmax) of 6,000 hours a year, the power plant is set to generate nine billion kWh a year for the system.

Initially, Quang Trach II is a 1,200 MW coal-fired power plant with an investment of VND48,156 billion ($1.95 billion), according to the government's in-principle approval document issued in 2021.

After the national power development plan VIII (PDP VIII) was issued in May 2023, EVN proposed converting the project into an LNG-fired power plant.

In September 2024, EVN received an in-principle approval for the LNG-fired Quang Trach II thermal power project.

Comments ( 0)
  • Read More
From Phu Quoc to Sa Pa: Why Vietnam’s tourism accelerating in Southeast Asia

From Phu Quoc to Sa Pa: Why Vietnam’s tourism accelerating in Southeast Asia

Leading U.S. business magazine Fortune has described Vietnam as an emerging tourism “hot spot” in Southeast Asia, driven by the strong rise of destinations such as Phu Quoc and Sa Pa.

Travel - Thu, July 9, 2026 | 11:09 pm GMT+7

VietinBank seeks to divest entire stake in Hai Phong Port via public auction

VietinBank seeks to divest entire stake in Hai Phong Port via public auction

VietinBank (HoSE: CTG) plans to divest its entire stake in state-controlled Hai Phong Port (UPCoM: PHP) through a public auction on the Hanoi Stock Exchange (HNX), potentially raising nearly VND278 billion ($10.57 million).

Companies - Thu, July 9, 2026 | 5:10 pm GMT+7

Starlink begins taking orders in Vietnam, first-year service costs $1,190

Starlink begins taking orders in Vietnam, first-year service costs $1,190

Starlink, the satellite internet service operated by Elon Musk’s SpaceX, has released pricing and started accepting orders in Vietnam, with first-year costs estimated at about VND31.4 million ($1,190).

Companies - Thu, July 9, 2026 | 4:09 pm GMT+7

Masan High-Tech Materials partners with S Korea’s GBI on tungsten processing

Masan High-Tech Materials partners with S Korea’s GBI on tungsten processing

Masan High-Tech Materials (UPCoM: MSR), the mining unit of Vietnamese conglomerate Masan Group (HoSE: MSN), has entered into a strategic partnership with South Korea’s GB Innovation (GBI) to process Korean tungsten concentrate into higher-value products in Vietnam, strengthening a non-Chinese tungsten supply chain.

Companies - Thu, July 9, 2026 | 3:51 pm GMT+7

Idemitsu Kosan expands energy ecosystem in Vietnam

Idemitsu Kosan expands energy ecosystem in Vietnam

After more than three decades of operations in Vietnam, Japan’s Idemitsu Kosan is further expanding its energy ecosystem with a biomass pellet plant project in the central province of Gia Lai.

Industries - Thu, July 9, 2026 | 1:43 pm GMT+7

Two banks to list on Ho Chi Minh City bourse, expand charter capital

Two banks to list on Ho Chi Minh City bourse, expand charter capital

Vietnam's private banks Vietbank and BVBank are finalizing the last steps to transfer their trading from the unlisted public company market UPCoM to the Ho Chi Minh Stock Exchange (HoSE), while simultaneously implementing plans to increase their charter capital.

Banking - Thu, July 9, 2026 | 11:51 am GMT+7

Strong Q2 earnings, lower interest rates to bolster Vietnam stocks

Strong Q2 earnings, lower interest rates to bolster Vietnam stocks

Strong second-quarter corporate earnings and declining interest rates are expected to support Vietnam's stock market in the coming months, brokerage firms said, as the market moves beyond a period of limited news flow and enters a more favorable phase driven by improving fundamentals.

Finance - Thu, July 9, 2026 | 8:00 am GMT+7

Wistron raises construction, equipment investment in northern Vietnam province to $178 mln

Wistron raises construction, equipment investment in northern Vietnam province to $178 mln

Taiwanese technology firm Wistron has increased its investment in factory construction and equipment in Ninh Binh province to $178.27 million, adding $24.5 million to expand its facilities at Kim Bang Industrial Park.

Industries - Wed, July 8, 2026 | 7:56 pm GMT+7

Sun Group targets groundbreaking for $624 mln urban projects in central Vietnam this year

Sun Group targets groundbreaking for $624 mln urban projects in central Vietnam this year

Vietnam's leading developer Sun Group aims to begin construction of two urban projects worth a combined VND16.4 trillion ($623.78 million) in the central province of Quang Ngai by the end of 2026, while also advancing plans for a new expressway linking the province with the Central Highlands.

Real Estate - Wed, July 8, 2026 | 4:54 pm GMT+7

Vietnam raises airport number target to 36 by 2030 as aviation demand surges

Vietnam raises airport number target to 36 by 2030 as aviation demand surges

Vietnam plans to expand its airport network to 36 airports by 2030, up from the previous target of 30, under a revised national aviation infrastructure plan aimed at catering for rising passenger demand and boosting regional connectivity.

Infrastructure - Wed, July 8, 2026 | 4:45 pm GMT+7

Germany's VFT Bio Fuels UG eyes $3.1 bln green steel complex in southern Vietnam

Germany's VFT Bio Fuels UG eyes $3.1 bln green steel complex in southern Vietnam

Vietnamese industrial park developer IMG Phuoc Dong and Germany’s VFT Bio Fuels UG have signed a memorandum of understanding to study the development of a $3.1 billion green steel complex in the southern province of Tay Ninh.

Industries - Wed, July 8, 2026 | 4:25 pm GMT+7

Vietnam police minister urges Yamato Holdings to study investment in Gia Binh airport

Vietnam police minister urges Yamato Holdings to study investment in Gia Binh airport

Vietnam’s Minister of Public Security Luong Tam Quang has called on Japan’s Yamato Holdings to assess investment opportunities in warehousing and cargo transport systems at Gia Binh International Airport, while exploring potential cooperation and operational models with Vietnamese partners once the facility becomes operational.

Infrastructure - Wed, July 8, 2026 | 3:09 pm GMT+7

Vietnam real estate M&A favors quality, clear legal status assets as FDI priorities evolve

Vietnam real estate M&A favors quality, clear legal status assets as FDI priorities evolve

Vietnam's real estate M&A market continued to attract foreign capital in the first half of 2026 despite persistent global economic uncertainties, but foreign investors are increasingly targeting assets with clear legal status, stable cash flow, and strong operational performance, with data centers emerging as a key growth segment.

Real Estate - Wed, July 8, 2026 | 1:38 pm GMT+7

Central Vietnam hub Danang plans to tokenize nearly $4 bln in infrastructure projects to attract global capital

Central Vietnam hub Danang plans to tokenize nearly $4 bln in infrastructure projects to attract global capital

The Vietnam International Financial Center, located in the central city of Danang (VIFC Danang), plans to tokenize nearly $4 billion worth of infrastructure projects as part of a strategy to attract more global capital.

Economy - Wed, July 8, 2026 | 12:17 pm GMT+7

Computers, smartphones edge higher in price as AI memory boom tests Vietnam's ICT firms

Computers, smartphones edge higher in price as AI memory boom tests Vietnam's ICT firms

Rising memory chip prices driven by artificial intelligence are spreading from semiconductor manufacturers to consumer electronics brands such as Apple, Dell and ASUS, pushing up the prices of computers and smartphones.

Companies - Wed, July 8, 2026 | 8:00 am GMT+7

LG Innotek to build $1 bln semiconductor substrate plant in northern Vietnam

LG Innotek to build $1 bln semiconductor substrate plant in northern Vietnam

South Korea's LG Innotek will spend $1 billion to build a semiconductor package substrate manufacturing plant in Hai Phong city, with mass production scheduled to begin in the third quarter of 2028, according to local authorities.

Industries - Tue, July 7, 2026 | 11:13 pm GMT+7