Petrovietnam has been tasked by the Government with the strategic mission of establishing an Eco-Energy Industrial Center to ignite new growth and lead the nation’s energy future. The project focuses on developing a clean energy hub, along with modern petrochemical, logistics, and warehousing industries, a research and training center, and an eco-urban area.
Can Tho City, with its central location in the Mekong Delta, excellent transportation infrastructure, and abundant human resources, is the ideal location for this initiative. The Eco-Energy Industrial Center will be designed and constructed by integrating various forms of clean and renewable energy. It will comprise a power hub, green chemicals, and advanced services, synergizing with the region’s agricultural strengths.
This model will not only provide clean energy to support Can Tho and the Mekong Delta’s industrial and commercial development but also contribute to forming a modern energy industry, aiming for a sustainable green energy future.
Overview of the meeting. Photo: Can Tho City People’s Committee
Regarding the investment roadmap and expected revenue, Petrovietnam shared that by 2030, the project aims to attract investments of 3.4 billion USD, mainly for power plants and bio-methanol production, with an estimated revenue of 2.3 billion USD per year.
By 2035, an additional 661 million USD will be invested in sustainable aviation fuel (SAF), bio-chemicals, food-grade CO₂ recovery, and high-tech agriculture, generating approximately 2.5 billion USD in annual revenue (an increase of 166 million USD per year).
Looking ahead to 2050, the focus will be on renewable energy (wind and solar), green ammonia, and CO₂ capture, with investments totaling 14.3 billion USD and expected revenues of 5.6 billion USD annually (a significant increase of 3.14 billion USD per year).
“The prerequisite for the success of this model lies in substantial capital, advanced technology, a breakthrough legal framework, and alignment with Vietnam’s Net Zero implementation roadmap post-2030,” emphasized the representative from Petrovietnam.
Based on these projections, Petrovietnam anticipates attracting approximately 4 billion USD in investments by 2035 and 15 billion USD in the 2031-2050 period.
According to the Corporation’s calculations, once operational, the project will boost the local economy with a gross revenue of 2.3 billion USD by 2030 and 5.6 billion USD by 2050. It will create new markets and supply chains for GH2/GNH3, biomass, and carbon credits, generate roughly 100,000 jobs, enhance the local budget, develop social infrastructure, improve the quality of life, ensure energy security, and contribute to environmental sustainability by reducing 18.5 MTA of CO₂ emissions, accounting for about 2% of the energy sector’s emission reduction target.
During the meeting, Mr. Tran Van Lau, Chairman of the Can Tho City People’s Committee, affirmed that Petrovietnam’s proposal aligns with the city’s development orientation. He requested that Petrovietnam expedite the completion of the research project and submit it to the city’s leaders before September 15.
Regarding the project site, the city leader proposed two feasible locations: the Hau River Thermal Power Center and the O Mon Thermal Power Center, which already have suitable planning and align with the city’s energy usage criteria. Mr. Lau also instructed Petrovietnam to proactively coordinate with relevant departments to reach a consensus on the project’s scale and location, providing a basis for integration into the city’s comprehensive planning.
The leadership of the People’s Committee affirmed their commitment to accompanying and creating favorable conditions for Petrovietnam to expedite project implementation, thereby fostering the economic development of Can Tho City and the entire Mekong Delta region.
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