The Vung Ang II thermal power build-operate-transfer (BOT) project agreement was inked on Monday in Ha Noi. — Photo hatinh24h.com.vn

The Vung Ang II thermal power build-operate-transfer (BOT) project agreement was inked on Monday in Ha Noi.

The agreement was finalized between the General Directorate of Energy (GDE) of the Ministry of Industry and Trade and the Vung Ang II thermal power joint stock company.

The 1,200MW plant consists of two 600MW generators, with the first turbine group to be put into operation in 2021, while the other one will become operational one year later.

The US$2.2 billion project will supply electricity for economic development in the northern region, ensuring national electricity security.

The GDE will support the investor in preparing procedures on investment licence and arranging finance.

Apart from the Vung Ang II thermal power BOT plant, the GDE is also involved in 17 other thermal power BOT projects with total capacity of 23,000 MW.

On the same day, Minister of Industry and Trade Tran Tuan Anh handed over the project agreement to the Japanese BOT investor Mitsubishi on the occasion of Japanese Prime Minister Shinzo Abe’s visit to Viet Nam. — VNS