The plant, built in Tuy Phong district at a cost of VND36.7 trillion, has two groups of turbine with a combined design capacity of 1,200MW. It is expected to generate 7.2 billion kWhs a year, or 5% of the country’s total electricity output.
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| Deputy Prime Minister Hoang Trung Hai addressing the ground-breaking ceremony |
The first turbine will come at full steam in 2017 and the second will be put into operation in the following year.
It will be built by a consortium of contractors from Doosan Heavy Industries and Construction of the Republic of Korea, Mitsubishi Corporation of Japan and Vietnamese partners under aUS$1.36 billion engineering, procurement, and construction (EPC) contract.
85% of the EPC contract value is sourced from the Export-Import Bank of Korea (KEXIM), the Korea Trade Insurance Corporation (KSURE), the Japan bank for International Cooperation (JBIC) and Japan’s Nippon Export and Investment Insurance (NEXI).
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At the ceremony, Deputy Prime Minister Hoang Trung Hai stressed Vinh Tan 4 will help ease power shortages, particularly when the domestic demand is predicted to rise sharply from 2017-2019.
He asked the consortium of contractors to keep to schedule, pay attention to site clearance and resettlement, and ensure financial transparency, quality and workplace safety.
Vinh Tan 4 is part of the Vinh Tan Power Centre with a total design capacity of up to 5,600MW. Once the four power plants are operational, they will turn Binh Thuan into a big energy generator of the country.