08:51 | 23/11/2016 Industry
Viet Nam has decided to cancel the Ninh Thuan nuclear power project, according to the Government’s official announcement released at a press conference on Tuesday.
The design of the Ninh Thuan nuclear power project
The project was canceled due to the country’s current economic conditions, NOT because of the technologies provided by Russia and Japan, said Minister-Chairman of the Government Office Mai Tien Dung.
Specifically, Viet Nam’s macroeconomic situation has changed a lot compared to the time the investment decision was made and room still remains for electricity savings.
Electricity exchanges with neighboring countries are expected to be increased in the coming times.
Especially, it is feasible for the country to utilize its renewable energy potential like wind and solar as costs of solar and wind power production have dropped remarkably over the past five years.
On the other hand, Viet Nam currently needs a huge volume of investment capital for developing infrastructure to create impetus for socio-economic development and for addressing problems caused by climate change.
The Ninh Thuan nuclear power project, approved by the National Assembly in November 2009, includes two plants with combined capacity of 4000MW./.