The Standing Committee of the Thanh Hoa Provincial Party Committee has recently organized a conference to gather opinions on the investment policy for the Nghi Son LNG Power Plant project in the Nghi Son Economic Zone. This is the third large-scale project in Thanh Hoa province, following the Nghi Son Refinery and Petrochemical Complex and the Nghi Son Thermal Power Plant.
Accordingly, the Nghi Son LNG Power Plant project will consist of a 1,500MW LNG power plant, an LNG import terminal, a roughly 1km long breakwater, and supporting infrastructure to serve the LNG import terminal.
The Standing Committee of the Thanh Hoa Provincial Party Committee organized a conference to gather opinions on the investment policy for the Nghi Son LNG Power Plant project in the Nghi Son Economic Zone. Photo by Minh Hieu
The supporting infrastructure for the LNG import terminal includes LNG storage facilities and a gas regasification station onshore, with a storage tank of approximately 230,000m3 and a regasification capacity of about 1.2 million tons per year. The technical infrastructure for the LNG storage facilities and the gas regasification station will include a pipeline system to transport gas from the regasification station to the LNG power plant, with a capacity of about 1.2 million tons per year.
The total project area is estimated to be about 68.2 hectares, with a planned investment of about 58,026 billion Vietnamese dong (equivalent to over 2.4 billion USD). The project is located in the southern part of the Nghi Son port, in Hai Ha commune, Nghi Son town. The project’s operational period is 50 years, and the project is expected to be commercially operational before 2030.
Prior to this, the Management Board of the Nghi Son Economic Zone and Industrial Parks received proposals for the approval of the investment policy for the Nghi Son LNG Power Plant project from five investors, including: The investor group consisting of JERA Co. Inc and Sovico Corporation; The investor group consisting of Korea South-East Power Co. (KOSPO), Korea Gas Corporation (KOGAS), Daewoo Engineering & Construction (Daewoo E&C), and Anh Phat Construction and Trading Investment Corporation (APT); Gulf Energy Development Public Company Limited; SK E&s Co., Ltd; The investor group consisting of PetroVietnam Power Corporation (PV POWER) and T&T Group.
Based on Article 7, Article 29 of Decree No. 31/2021/NĐ-CP, the Management Board of the Nghi Son Economic Zone and Industrial Parks issued Announcement No. 4077/TB-BQLKKTNS&KCN on December 1, 2023, regarding the implementation of procedures for approving the investment policy and selecting the project investor through a tender among the 5 eligible investors. The start of the investor selection process is scheduled for the second quarter of 2024.
Mr. Do Trong Hung, Secretary of the Thanh Hoa Provincial Party Committee, stated that this is the third large-scale project in the province, following the Nghi Son Refinery and Petrochemical Complex and the Nghi Son Thermal Power Plant. The Standing Committee of the Thanh Hoa Provincial Party Committee has basically agreed with the proposal of the Party Civil Affairs Board and requested the Party Civil Affairs Board and the provincial People’s Committee to carry out the project procedures strictly in accordance with the law and ensure transparency; the bidding process must be fair, open, and transparent.
