Tata Power wants to speed up work on its 1,320MW thermal power plant in the Mekong Province of Soc Trang.— Photo baodautu

HCM CITY (Biz Hub) — Tata Power, India's largest integrated electricity company, wants to speed up work on its 1,320MW thermal power plant in the Mekong Province of Soc Trang.

The US$1.8 billion Long Phu No 2 plant was originally scheduled for completion in 2022-23, but Tata now hopes to start power generation in 2018/19, Indronil Sengupta, Viet Nam chief executive of Tata Sons – the group holding company — told Viet Nam News.

A MoU to this effect was signed between Tata Power and the Ministry of Industry and Trade during a visit to India by Party General Secretary Nguyen Phu Trong in November 2013.

The Mumbai-based Tata Power submitted a feasibility study to the ministry's General Director of Energy on July 31 for review and approval, Sengupta said.

"This is a very quick time of just six months. We expect to start the construction at the earliest after completing the relevant agreements.

"We intend to further speed up the project if we are allowed to advance the commissioning date to bridge the gap for the envisaged power shortage in southern Viet Nam."

Viet Nam has political and economic stability that offers favourable conditions and safety for foreign investors, he said.

"Viet Nam, which is on a fast growth path, will need more and more power.

"Tata Power. with its 100 years of experience in power, decided it would be meaningful to be partners in progress with Viet Nam by investing in the power sector." he said. — VNS