Sembcorp transfers power Plant to Vietnam Electricity as operation clause ends

Monday, Mar 11, 2024 16:56

Tow Heng Tan, chairman of Sembcorp Industries, speaks at the transfer ceremony held in Bà Rịa – Vũng Tàu Province on March 8. — Photo courtesy of the company

Singapore-based Sembcorp Industries’ 67-per cent joint venture Phú Mỹ 3 BOT Power Company Ltd has transferred the Phú Mỹ 3 Power Plant to Vietnam Electricity (EVN) after commercially operating it for 20 years.

The transfer ceremony was held in Bà Rịa – Vũng Tàu Province, where the plant is located, on March 8.

Under the terms of the build-operate-transfer (BOT) contract, EVN has been appointed by the Government to manage the plant at the end of the contracted term. 

It was Việt Nam’s first independent and BOT power plant.

Sembcorp has contributed to Việt Nam’s power industry and urban development for over two decades, and the smooth transfer of the Phú Mỹ 3 Power Plant would continue to underpin Việt Nam’s energy needs, the company said in a press release.

As the country’s first independent power plant, it played a major role in advancing knowledge sharing within the emerging combined cycle power generation industry. 

It also provided around 100 jobs and enabled the workforce to acquire valuable engineering skills.

Phú Mỹ 3 BOT Power Company Ltd has also made contributions to healthcare, education and support to underprivileged families in the community.

This includes sponsoring medical equipment for hospitals, “gratitude” houses for the poor, student scholarships, and blood donation programmes. — VNS

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