Unveiling Vietnam’s First-Ever Billion-Dollar “10-in-1” Factory: Prime Minister Lauds It as a “Model Project”

This morning (December 14), the Nhon Trach 3 and 4 LNG power plants in Dong Nai province were officially inaugurated. Prime Minister Pham Minh Chinh attended the ceremony and unveiled a plaque commemorating the event in honor of the 14th National Party Congress.

These plants are invested by PV Power, a subsidiary of Petrovietnam, with Lilama – Samsung C&T as the EPC contractor. The project has a total investment of approximately $1.4 billion, involving 40,000 tons of steel structures, equipment, and 120,000 m³ of concrete.

Speaking at the event, the Prime Minister emphasized that the Nhon Trach 3 and 4 LNG Power Plants—Vietnam’s first LNG power plants—are a crucial component in strengthening national energy security and meeting the country’s rapid and sustainable development needs in the new era.

He noted that the project faced numerous “unprecedented” challenges, requiring swift and accurate solutions. Despite the complexities of the COVID-19 pandemic and its prolonged aftermath, the project received investment approval in July 2020 and began construction in May 2022.

“The construction and inauguration of this project serve as a model in many aspects, particularly in overcoming challenges to meet deadlines, ensure quality, maintain environmental safety, and provide satisfactory resettlement for affected residents. We are proud that our power and oil & gas sectors have grown stronger than ever, demonstrating Vietnamese resilience and stature,” stated the Prime Minister.

He affirmed that with an annual output of over 9 billion kWh, the operation of Vietnam’s first LNG power complex will establish a foundation for the country’s gas-fired power market, marking a significant step toward a flexible, clean, stable, and modern national energy system.

To ensure the efficient operation of the LNG power complex and its strategic role in national energy security and socio-economic development, the Prime Minister urged Petrovietnam to continue leading the energy sector, ensuring energy security, and driving digital transformation, green growth, and energy transition (renewables, hydrogen, LNG, nuclear power, offshore wind). He encouraged the company to confidently advance into high technology.

Vietnam’s First Billion-Dollar LNG Power Project to Begin Commercial Operation in 2026

With a total capacity of 1,624 MW, Nhon Trach 3 and Nhon Trach 4 are expected to supply over 9 billion kWh annually once fully operational, significantly boosting power capacity in the Southern region. The complex will also serve as a flexible power source, supporting grid balancing amid increasing renewable energy integration.

The project utilizes advanced technology, including GE’s 9HA.02 gas turbines—the most powerful and efficient in the world. This enables the plant to achieve an efficiency rate of 62–64%, among the highest globally. Additionally, the 9HA.02 technology meets strict emission standards and allows fuel flexibility, including up to 50% hydrogen blending, with potential for 100% hydrogen use in the future.

According to Petrovietnam, the Nhon Trach 3 and 4 Power Plants set a benchmark for future LNG power centers, ushering in a new era of modern gas-fired power in Vietnam.

The Nhon Trach 3 and 4 LNG Power Complex will commence commercial operation on January 1, 2026. Once fully operational, it is expected to generate approximately VND 25 trillion in revenue and contribute around VND 1 trillion annually to Dong Nai province’s budget.

Petrovietnam Chairman Le Manh Hung highlighted that the Nhon Trach 3 and 4 LNG Power Plants are Vietnam’s first major power projects using LNG fuel and new-generation turbines, achieving over 62% efficiency. Their operation increases Petrovietnam’s total power plants to 12, with a combined capacity of 8,249 MW—9.3% of the national total and over 10% of the country’s electricity output.

He emphasized that LNG-fueled power plants pave the way for Petrovietnam to develop more LNG power centers nationwide, ensuring energy security, economic growth, and achieving net-zero emissions by 2050.

Vietnam’s First LNG Power Project Boasts “10 Firsts”

The Nhon Trach 3 and 4 LNG Power Plants—Vietnam’s first of their kind—hold 10 notable distinctions:

First, they are Vietnam’s inaugural LNG-fueled power projects, leading the transition from coal to cleaner energy.

Second, they are Vietnam’s largest gas-fired power projects, with a combined capacity of 1,624 MW.

Third, they feature Vietnam’s largest power generation units, each at 812 MW.

Fourth, they utilize GE’s 9HA.02 gas turbines—the world’s most advanced, efficient, and powerful, with hydrogen co-firing capability.

Fifth, they achieve Vietnam’s highest efficiency rate, exceeding 62%.

Sixth, they completed EPC contractor selection during the challenging COVID-19 pandemic.

Seventh, EPC contractor selection was completed in just 11 months—the fastest in Vietnam.

Eighth, the EPC contract has the highest domestic participation rate, with Lilama contributing approximately 40%.

Ninth, this is Vietnam’s first LNG power project to secure nearly $1 billion in financing without government guarantees.

Tenth, it has the lowest investment cost per unit of capacity in Vietnam to date.