State utility EVN to take over 2 thermal power plants after BOT contracts end
Vietnam Electricity (EVN) will take over two thermal power plants in the southern region after their build-operate-transfer (BOT) contracts end in 2024 and 2025.
Deputy Prime Minister Le Minh Khai signed a decision to this effect last Saturday.
The BOT contracts for the two thermal power plants in Ba Ria-Vung Tau province - Phu My 3 and Phu My 2.2 - were signed in 2001.
Phu My 2.2 thermal power plant in Ba Ria-Vung Tau province, southern Vietnam. Photo courtesy of SHDTech Saigon.
The 716.8-MW Phu My 3 power plant was a joint investment by Singapore’s Sembcorp and Japan’s Kyuden International Corporation and Sojitz Corporation. The $450-million facility started commercial operations in March 2004 and will be transferred to the Vietnamese side in March 2024.
Similarly, the $480 million Phu My 2.2 power factory will be transferred to the Vietnamese side in February 2025, as its commercial operation began in February 2005.
Investors in the 715-MW plant were France’s Electricite du France International (EDFI), Summit Global Management II B.V under Japan’s Sumitomo, and Japan’s Tokyo Electric Power Co. International (TEPCI).
The Ministry of Industry and Trade has been tasked with monitoring the transfer and ensuring continuous operation of the factories.
With oil-gas wells depleting, PV Power, the power generation arm of state-owned oil-gas group Petrovietnam, has raised concerns about insufficient gas supply for factories in the southeastern region and proposed LNG as the alternative fuel.
Meanwhile, PVGas, another Petrovietnam subsidiary, has said that after the two above-mentioned power plants are transferred, LNG would be the only suitable fuel for their continued operation.
- Related News
- Read More
Northern Vietnam province urges VSIP to build 663 hectare high-tech park in 2025
Ha Nam province authorities has urged VSIP, the developer of Vietnam-Singapore Industrial Park (VSIP) facilities, to begin building a high-tech park in the northern province by end-2025.
Industrial real estate - Wed, February 19, 2025 | 1:45 pm GMT+7
Central Vietnam city launches first industrial park project in 22 years
Vietnam’s central coastal city of Danang has broken ground on its first industrial park in 22 years, marking significant progress in its industrial development strategy.
Industrial real estate - Wed, February 19, 2025 | 12:21 pm GMT+7
Northern Vietnam province to complete site clearance for $2 bln LNG power plant in May
Vietnam’s northern province of Thai Binh seeks to complete the site clearance for its $2 billion LNG Thai Binh power plant project in May, provincial authorities said Tuesday.
Energy - Wed, February 19, 2025 | 11:18 am GMT+7
Can Gio port added to Vietnam's seaport development plan
The Can Gio international transshipment port project in Ho Chi Minh City has taken a significant step forward with its official inclusion in Vietnam’s seaport development plan.
Southeast Asia - Wed, February 19, 2025 | 9:29 am GMT+7
Vietnam's Tan Cang-Cai Mep International Terminal receives first vessel from Premier Alliance
Tan Cang-Cai Mep International Terminal (TCIT) in the southern Vietnam province of Ba Ria-Vung Tau has welcomed the first vessel from EC3 of the Premier Alliance, announced Truong Tan Loc, chairman of TCIT on Tuesday.
Southeast Asia - Wed, February 19, 2025 | 9:26 am GMT+7
New shipping route linking China, Vietnam, India launched
Vietnam Maritime Corporation (VIMC) has partnered with Guangxi Beibu Gulf Port Group of China to launch a new container shipping route connecting the ports of China’s Beibu Gulf, Vietnam’s Hai Phong city and India’s Kolkata.
Southeast Asia - Wed, February 19, 2025 | 9:23 am GMT+7
Thai PM highlights importance of regional economic integration
Thailand’s Prime Minister Paetongtarn Shinawatra has underscored the shared priorities of deeper regional economic integration, strengthening supply chains and contributing to global economic development.
Southeast Asia - Wed, February 19, 2025 | 9:15 am GMT+7
Japan retailer Aeon starts building 9.1 hectare mall in northern Vietnam
Aeon Mall Vietnam, under Japanese retail giant Aeon Mall, on Monday kicked off the construction of Aeon Mall Ha Long in Ha Long town, Quang Ninh province, the firm said in a statement.
Companies - Wed, February 19, 2025 | 9:09 am GMT+7
Vietjet, Satair sign multi-year agreement for integrated material services
Vietjet Air and Satair, an Airbus services company, on Tuesday signed a multi-year agreement for the latter's Integrated Material Services (IMS), a comprehensive material solution that will support the former's entire Airbus A320 and A330 fleet.
Companies - Wed, February 19, 2025 | 8:13 am GMT+7
Indonesia promotes Marine Biopharma in healthcare
Indonesia is actively promoting the use of marine biopharmaceuticals in the healthcare, cosmetics, and nutraceutical industries to harness the vast potential of its marine and fisheries resources.
Southeast Asia - Tue, February 18, 2025 | 10:05 pm GMT+7
Thailand leads dried fruit exports to China
Thailand led global exports of dried fruits to China in the first 10 months of 2024, with sales rising 10.22% from the same period last year to $125.64 million, according to the Thai Department of International Trade Promotion (DITP).
Southeast Asia - Tue, February 18, 2025 | 10:02 pm GMT+7
Vietnam parliament okays appointment of 4 ministers
The Vietnamese parliament on Tuesday okayed the appointment of four ministers, per Prime Minister Pham Minh Chinh's proposal.
Politics - Tue, February 18, 2025 | 9:38 pm GMT+7
Vietnam has 2 new Deputy Prime Ministers
The National Assembly, Vietnam's highest legislative body, on Tuesday approved Prime Minister Pham Minh Chinh's proposal to appoint Nguyen Chi Dung and Mai Van Chinh as Deputy Prime Ministers for the term 2021-2026.
Politics - Tue, February 18, 2025 | 6:07 pm GMT+7
Foreign investors hold over $12.6 bln worth of Vietnamese securities
Foreign investors held over VND323.53 trillion ($12.65 billion) worth of securities at the end of 2024, accounting for 7.35% of the total registered securities value at the Vietnam Securities Depository and Clearing Corporation (VSDC), according to its general director Ta Thanh Binh.
Finance - Tue, February 18, 2025 | 4:33 pm GMT+7
Vietnam’s southernmost province eyes exporting electricity to Singapore
Vietnam’s southernmost province of Ca Mau aims to build a grid to export electricity to Singapore, provincial authorities suggested at a Monday meeting with Singaporean Ambassador to Vietnam Jaya Ratnam.
Energy - Tue, February 18, 2025 | 3:21 pm GMT+7
Vietnam's leading IP developer KBC eyes 7-fold profit hike in 2025
Kinh Bac City Development Holding Corporation (HoSE: KBC), a leading industrial real estate developer in Vietnam, targets a consolidated net profit of VND3.2 trillion ($125.5 million) this year, a sevenfold increase from 2024.
Companies - Tue, February 18, 2025 | 3:04 pm GMT+7
