At 11:11 am on February 5th, Nhon Trach 3 Power Plant, Vietnam’s first LNG-fired power plant, successfully synchronized with the national power grid, achieving a capacity of 50MW. This marks the first time the project has fed electricity into the grid to commence trial operations. It is expected that in July 2025, after meeting technical requirements, the Nhon Trach 3 Power Plant will commence commercial operations.
Prior to this, the plant had completed its first fire-up on January 11, 2025, operating in a no-load mode at 3,000 rpm, signifying a crucial milestone in bringing Vietnam’s first LNG-powered project online.
As of the end of January 2025, the total progress of the Nhon Trach 3 and 4 projects has reached nearly 96%. With the support of Dong Nai province and Petrovietnam, PV Power is striving to expedite the schedule and bring the two plants into operation by 2025.

The Nhon Trach 3 and 4 Thermal Power Plants, with a total investment of $1.4 billion and a combined capacity of 1,624 MW, are developed by the Vietnam Oil and Gas Power Corporation (PV Power). Upon completion, the plants are expected to generate between 9 and 12 billion kWh of electricity annually. This is Vietnam’s first thermal power project to utilize liquefied natural gas (LNG) as fuel.
The consortium of Samsung C&T Corporation and Vietnam Machinery Installation Corporation (LILAMA) was the successful bidder for the Engineering, Procurement, Construction, Installation, Testing, and Commissioning (EPC) contract for the Nhon Trach 3 and Nhon Trach 4 Power Plant projects (Nhon Trach 3 and 4 Projects).
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The VN-Index ended 2024 on a high note, with a gain of over 12% compared to the beginning of the year. While the real estate sector as a whole saw a decline of nearly 2%, the industrial real estate segment stood out with an impressive growth of more than 13%. Which stocks were the top performers of the past year?
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Peter Ryder, Executive Chairman of Indochina Capital and Board Member of Indochina Kajima, firmly believes that infrastructure is the foundation for Vietnam’s future growth, both in the real estate sector and the economy as a whole. He emphasizes that infrastructure is also the most critical bottleneck currently restraining the industry’s development.