Prime Minister Pham Minh Chinh Launches $6.7 Billion Thermal Power Plant Project

On the evening of September 26th, the People’s Committee of Hai Phong City and Vingroup Corporation jointly held the groundbreaking ceremony for the Infrastructure Development Investment Project of Tan Trao Industrial Park (Phase 1) and the Hai Phong LNG Thermal Power Plant Project.

Attending the ceremony were Prime Minister Pham Minh Chinh and his delegation, leaders of Hai Phong City, and representatives from various city departments.

The Tan Trao Industrial Park Infrastructure Development Project, invested by Vinhomes Hai Phong Industrial Park Investment JSC, covers nearly 227 hectares in Kien Hung and Nghi Duong communes (former Kien Thuy district) with a total Phase 1 investment of over VND 4,000 billion.

Construction of Tan Trao Industrial Park is expected to span 5 years, from Q2/2025 to Q2/2030. Upon completion, the park will become a major hub for advanced industries and new technologies, featuring state-of-the-art infrastructure. It aims to attract multi-sector investments in electrical, electronics, telecommunications, pharmaceuticals, clean energy, and renewable energy. Notably, it will gather tens of thousands of highly skilled workers from across the country.

With its scale, strategic location, and synchronized development vision, Tan Trao Industrial Park will be a key growth driver, enhancing Hai Phong’s investment appeal and setting a benchmark for industrial development nationwide.

The Hai Phong LNG Thermal Power Plant Project, located within Tan Trao Industrial Park, is jointly invested by Vingroup Corporation and VinEnergo Energy JSC. Spanning nearly 100 hectares, the project has a total investment of VND 178,000 billion (approximately USD 6.74 billion). Construction is expected to take 5 years, with operations commencing in 2030.

Once operational, the plant will generate approximately 9.6 billion kWh/year (Phase 1) and 19.2 billion kWh/year (Phase 2), serving both Tan Trao Industrial Park and significantly contributing to the national power grid. It will also support grid stability and reduce reliance on traditional energy sources.

With a designed capacity of 4,800 MW (1,600 MW in Phase 1 and 3,200 MW in Phase 2), it will be Vietnam’s largest thermal power plant, aligning with the Government’s Power Plan III and ranking among the world’s leading LNG-based power plants.

LNG-generated electricity offers significant environmental advantages, producing nearly zero SO2 emissions, no dust, and lower NOx levels compared to fossil fuels like coal and oil.

Speaking at the ceremony, Mr. Le Ngoc Chau, Chairman of Hai Phong People’s Committee, emphasized that the groundbreaking of these two flagship projects within the Southern Coastal Economic Zone holds significant meaning, marking a practical celebration of the 1st Hai Phong Party Congress for the 2025-2030 term.

Within 9 months of the Southern Coastal Economic Zone’s establishment, the commencement of these two large-scale projects underscores the zone’s effective investment attraction policies and strategic importance.

This achievement reflects the decisive, synchronized, and effective leadership of the entire political system in realizing the strategic quartet for socioeconomic development.

Prime Minister Pham Minh Chinh, attending and speaking at the event, praised Hai Phong as a pioneer in innovation, consistently achieving double-digit growth over the past decade. The city also leads in various other sectors.