Phu My 3 BOT Thermal Power Plant
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The Phu My 3 BOT Thermal Power Plant project has a capacity of 715 MW at Phu My 1 Industrial Zone, Phu My town, Ba Ria-Vung Tau province. It is a mixed-cycle gas turbine power plant, using domestic gas and implemented by three foreign investors: Sembcorp Utilities Pte. Ltd., Kyuden International Corporation, and Sojitz Corporation.
The project started commercial operation on March 1, 2004, with a capacity of 715MW. This is Vietnam’s first 100% foreign-invested power project under the BOT (Build-Operate-Transfer) scheme, which was assigned by the Vietnamese Government to foreign investors after opening up and integrating into the international economy.
After the 20-year operation period, which ended on March 1, 2024, the plant was transferred to EVN for continued operation and maintenance.
Signing ceremony of the Phu My 3 Power Plant handover. Deputy Minister Nguyen Sinh Nhat Tan (second from left), Mr. Thiraviam Jothilingam (third from left). Source: Ministry of Industry and Trade
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According to the latest business registration information as of early January 2024, Phu My 3 BOT Company reduced its charter capital from 1,455 billion VND to around 920 billion VND. The shareholders structure includes Kyuden International Corporation and Sojitz Corporation (Japan) holding 33.333%, while Sembcorp Utilities Pte. Ltd. (Singapore) holds the remaining 66.667%. Mr. Thiraviam Jothilingam (Singaporean nationality) is the General Director and legal representative.
Prior to that, the company was led by Mr. Do Ba Canh (American nationality) as the General Director and legal representative.
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Mr. Canh has over 40 years of experience working in the energy sector globally, including the United States. In the past 20 years, he has been involved in and worked on projects in Vietnam. In 2021, Delta Offshore Energy (DOE), the investor of the Bac Lieu LNG Power Plant project with a capacity of 3.2GW, appointed Mr. Canh as the General Director of Bac Lieu Energy Company Limited. In addition, Mr. Canh is also the Country Director of BP group (United Kingdom) in Vietnam.
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