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| The thermal electricity plant will cost about US$1.7 billion, 95 per cent of which will be funded by two Chinese corporations, China Southern Power Grid Co., Ltd. and China Power International Holding Ltd. — File Photo |
HA NOI (Biz Hub) — A ceremony announcing the start of construction on Vinh Tan 1 Thermal Power Plant was held in Ha Noi on Saturday.
The thermal electricity plant will cost about US$1.7 billion, 95 per cent of which will be funded by two Chinese corporations, China Southern Power Grid Co., Ltd. and China Power International Holding Ltd.
Viet Nam National Coal-Mineral Industries Holding Co., Ltd, (Vinacomin) will contribute the last 5 per cent.
Vinh Tan 1 is expected to provide more than 9 billion KWh per year, increasing the southern region's electricity supply capacity and helping reduce the region's dependence on hydropower – especially in the dry season or during droughts.
The plant will be constructed in four years under the build-operate-transfer (BOT) model.
It is one of four thermal power plants to be built in the central province of Binh Thuan. They'll form the largest national thermal power centre in Viet Nam, with a productivity capacity of 5,600 MW.
Viet Nam Electricity Corporation (EVN) invested in Vinh Tan 2, Vinh Tan 4 and part of Vinh Tan 3, which have all already been built.
Vinh Tan 2 has received criticism from nearby residents for polluting the environment. Black fumes have been billowing from the plant since last year, affecting the livelihoods and health of the residents. — VNS