A corner of Vung Ang 1 Thermo Power Plant in Ha Tinh Province. — Photo nangluongvietnam.vn

HA NOI (Biz Hub) — Japan's Mitsubishi Corporation is making the final preparations before the construction of the Vung Ang 2 thermo power plant in the central province of Ha Tinh begins in June 2014.

This was stated by Deputy Head of Vung Ang Economic Zone management board Ngo Dinh Van, who told Biz Hub on February 17 that the Ministry of Planning and Investment will grant the investment registration certificate to the US$2.5 billion project soon. The Mitsubishi Corporation has begun the site clearance.

The Vung Ang 2 thermo power plant, designed with a capacity of 1,320 MW and two turbines, will be built on 42 hectares in Ky Anh District, next to the Vung Ang 1 thermo power plant and under the Build-Operate-Transfer form.

The plant's turbine 1 is expected to begin operations by 2018.

Meanwhile, Samsung Corporation from South Korea has signed a memorandum of understanding to invest in the Vung Ang 3 thermo power plant, which has 2,400MW.

"Samsung Corporation has been completing procedures to ask for the investment registration certificate," said Van.

According to the Ministry of Planning and Investment's Foreign Investment Agency, Ha Tinh had 53 foreign direct investment projects at the end of 2013, with a total capital of nearly $11 billion. — VNS