Prime Minister Nguyen Xuan Phuc hosted a reception in Ha Noi on Wednesday for investors who are planning to pour capital into a liquefied natural gas (LNG)-fueled power project in the Mekong Delta province of Bac Lieu.

The project has total investment of VND91.4 trillion (around US$4 billion), and will cover an area of 100 hectares with a total capacity of 3,200MW.

With support and co-operation from the Government, ministries and sectors, investors expect to begin operations of the first turbine with a capacity of 1,000MW within the next three years.

According to an investor report, the factory’s emissions would be low compared to coal-fueled power projects and there would also be minimal waste that could pollute the environment.

Bac Lieu’s authorities have evaluated the project as feasible with reasonable prices lower than power produced by coal-fueled plants, wind and solar farms.

PM Phuc said the Mekong Delta held great potential for gas-fueled power projects and many investors had showed a desire to build such plants in the region.

The Government leader assigned the Ministry of Industry and Trade, Electricity of Viet Nam, relevant ministries and agencies to add this project to the country’s power development strategy so that it could start producing electricity in 2021.

This is a big project, so all stages must be conducted strictly and in line with regulations, PM Phuc said, adding that the project must minimise its effects on the environment, electricity prices must be competitive and progress must be ensured. — VNS