On June 6th, the Vietnam National Oil and Gas Group (Petrovietnam) signed an EPC contract for the O Mon IV Thermal Power Plant project. The total value of the contract is VND 22,200 billion, with a completion timeframe of 34 months.
The Doosan Enerbility Co., Ltd. (South Korea) – Power Engineering Consulting Joint Stock Company 2 (PECC2) consortium was selected as the main contractor for this project. PECC2 is expected to hold a 15% stake in the contract, equivalent to an estimated potential revenue of VND 3,300 billion.
The plant will utilize the latest generation of high-efficiency, fuel-saving, and environmentally friendly combined-cycle gas turbine technology. With a designed capacity of approximately 1,155 MW, it is expected to commence commercial operations in December 2028, synchronizing with the timeline for bringing gas from Lot B onshore.
The O Mon IV Thermal Power Plant project is part of the larger Gas-Power Chain Project in Lot B – O Mon, which includes offshore gas exploitation in Lot B, the Lot B – O Mon gas pipeline, and a cluster of thermal power plants in Can Tho. The implementation of the Gas-Power Chain Project has faced numerous challenges and delays over the past 20 years, particularly in the construction of the thermal power plants, which are considered critical to the overall feasibility and economic efficiency of the entire chain.
With the completion of the O Mon IV Thermal Power Plant, Petrovietnam’s total managed and operated power capacity will exceed 9,300 MW, accounting for approximately 10% of the national power system.
“PC1 Spends Nearly $2 Million to Establish a Subsidiary in the Philippines”
The Board of Directors of PC1 Group Joint Stock Company (HOSE: PC1) has approved a plan to contribute 99.98% of the capital to establish a subsidiary in the Philippines to undertake a wind power project.
The Ultimate Guide to the MST Investment: Unraveling the Intriguing Story of Truong My Lan’s Former Empire with a Whopping 2,000 Billion VND Contract.
The Board of Directors of MST has recently approved the signing of a comprehensive EPC contract for the supply of equipment, materials, and construction services for the Greenhill Village Quy Nhon tourism complex, a project previously acquired and then seized by a bank from Truong My Lan. The contract is valued at over VND 2,014 billion, excluding the 10% VAT.
South Korean Industrial Giants: Expanding Investments and Localizing Operations in Vietnam
On July 1st, in the South Korean capital of Seoul, Prime Minister Pham Minh Chinh met with Mr. Euisun Chung, the Chief Executive Officer of Hyundai Motor Group, and other senior leaders of the conglomerate as part of his official visit to the Republic of Korea.
The River’s Edge: Sufficient Capital Preparations for the Song Hau 2 Project.
The 2024 Annual General Meeting of PECC2, a leading construction consulting firm listed on the HOSE exchange under the ticker symbol TV2, was held on the morning of June 14. The company has set its sights on revenue growth while aiming to maintain profits at the same level as the previous year’s performance.
Profits, Progeny, and Progress: TV2’s Three-Pronged Strategy for Stability and Growth
For the upcoming fiscal year, as per the Annual General Meeting documentation for 2024, the Joint Stock Company for Power Construction Consulting 2 (PECC2, HOSE: TV2) aims to boost revenue growth while maintaining stable profits akin to the performance witnessed in 2023.
