On March 1st, news from the Thanh Hoa Provincial Party Office stated that the Executive Board of the Thanh Hoa Provincial Party has recently met and officially agreed to invest in the LNG Nghi Son thermal power plant project in the Nghi Son Economic Zone (Nghi Son town, Thanh Hoa province). This is the third large billion-dollar “super project” in Thanh Hoa province.
The Nghi Son oil refinery – the largest billion-dollar “super project” in Thanh Hoa province – with a total investment of over $9 billion has become operational
At the meeting held on February 28 to discuss investment policies for the LNG Nghi Son thermal power plant project in the Nghi Son Economic Zone and other important contents, the Executive Board of the Thanh Hoa Provincial Party also provided feedback and reached agreement with the documents of the Party Central Committee’s Standing Board and the Provincial People’s Committee, including the “super project” LNG thermal power plant.
Chairing and concluding the conference, the Secretary of the Thanh Hoa Provincial Party Committee, Do Trong Hung, clarified that this is the province’s third largest project after the Nghi Son oil refinery project ($9 billion) and the Nghi Son thermal power plant project ($2.8 billion). The Executive Board of the Provincial Party Committee basically agreed with the documents of the Party Central Committee’s Standing Board and proposed that the Provincial Party Committee’s Standing Board head the Provincial People’s Committee to carry out the project procedures in a strict manner, ensuring compliance with legal regulations. The procurement process must be fair, transparent, and open.
“$2.4 billion super project
According to the documents, the LNG Nghi Son thermal power plant project will construct one LNG power plant with a capacity of 1,500 MW, one LNG import port, and a roughly 1 km long breakwater.
Auxiliary facilities serving the LNG import port, such as LNG storage tanks, onshore gas reprocessing stations with a capacity of around 230,000 m3, gas reprocessing stations with a capacity of about 1.2 million tonnes/year, gas pipeline systems from the gas reprocessing station to the LNG power plant with a capacity of about 1.2 million tonnes/year…
The project is expected to cover an area of about 68.2 hectares in the southern part of the Nghi Son Economic Zone, located in Hai Ha commune (Nghi Son town), with a total investment of over $2.4 billion (about over VND 58,000 billion). The project’s operating period is 50 years, and commercial operation is expected to start before 2030.
The Management Board of the Nghi Son Economic Zone and the Industrial Parks in Thanh Hoa province have received application files for approval of the investment policy for the LNG Nghi Son thermal power plant project as proposed by five investors, including the JERA Co. and Sovico Group consortium; the consortium of the Korea South Power Company (KOSPO), the Korea Gas Corporation (KOGAS), Daewoo Engineering & Construction, and An Phat Investment, Construction and Trading Corporation (APT); Gulf Energy Development Public Company Limited; SK E&S Co., Ltd; the consortium of the PetroVietnam Power Corporation (PV POWER) and the T&T Group.
The selection of potential investors is expected to take place in the second quarter of 2024.
