AES Corporation keen to invest in thermal plant

Friday, May 18, 2018 15:44

Deputy Prime Minister Vuong Dinh Hue and AES Vietnam President David Stone. — Photo VNA

US-based AES Corporation wants to invest in Son My 2 thermal power plant in the central province of Binh Thuan under the form of Build-Operate-Transfer (BOT).

The proposal was made by AES Vietnam President David Stone at a meeting with Deputy Prime Minister Vuong Dinh Hue in Ha Noi on Thursday.

Stone said AES was listed among the 200 global energy companies ranked by Fortune magazine. The company currently owns a liquefied natural gas (LNG) project in the Dominican Republic and had invested in an LNG depot in Panama.

At the meeting, Stone said his company was carrying out researches for investment in Son My 2 gas-fired thermal power project in the form of BOT and hoped its participation would contribute to boosting trade and investment between Viet Nam and the United States.

The project consists of three LNG-powered plants, with a designed capacity of 750MW each. Built at the Son My industry-services-gas complex in the central coastal province of Binh Thuan, the facilities are set to become operational in 2023-25.

Hue said he supported the LNG terminal project, urging both sides to speed up the signing of a partnership contract to implement the project at the earliest.

Regarding the Son My 2 project, he requested AES to work with PV Gas to identify the most suitable investment model, adding that the Vietnamese Ministry of Industry and Trade will directly address difficulties, if any, arising from the cooperation.

AES is known for its 1,242MW Mong Duong 2 power plant in the northern province of Quang Ninh in Viet Nam. The coal-fired power plant was built under a BOT agreement and will be transferred to the Government after 25 years. It has been constructed in collaboration with PetroVietnam Gas JSC to carry out a liquefied gas depot project in Ham Tan District in Binh Thuan Province. — VNS

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