PM hosts investors interested in Bac Lieu power project

13:23 | 28/07/2018 Energy

Prime Minister Nguyen Xuan Phuc hosted a reception in Hanoi on July 25 for investors who are planning to pour capital into a liquefied natural gas (LNG)-fueled power project in the Mekong Delta province of Bac Lieu.

At the reception - Source: VNA

The project has a total investment of 91.4 trillion VND (around US$4 billion). It will cover an area of 100 hectares with a total capacity of 3,200 MW.

If the investors get support and cooperation from the government, ministries and sectors of Vietnam, they expect to begin operation of the first turbine with a capacity of 1,000 MW within the next three years.

According to the investors’ report, the factory’s exhaust emission will be at low level as compared to coal-fueled power projects and there is almost no other waste that can pollute the environment.

Bac Lieu province’s authorities evaluated the project as feasible and its electricity price of 7 US cents is reasonable and lower than that of power produced by coal-fueled plants, wind power or solar power farms.

PM Phuc said the Mekong Delta holds great potential for gas-fueled power projects and many investors have showed their desire to build such plants in the region.

The government leader assigned the Ministry of Industry and Trade, the Electricity of Vietnam Group (EVN), relevant ministries and agencies to add this project (if highly feasible) into the country’s power development strategy so that it could start producing electricity in 2021.

He requested the Ministry of Planning and Investment, Bac Lieu province and concerned ministries and agencies to instruct the investors complete investment procedures.

This is a big project, therefore all stages must be conducted strictly and in line with regulations, PM Phuc said, adding that the project must minimize its effects on the environment and its electricity price must be competitive and progress must be ensured.

Theo VNA