What Makes Vingroup’s $7.7 Billion Hai Phong LNG Thermal Power Plant Project Stand Out?

On September 26th, Vingroup officially broke ground on two major projects: the first phase of infrastructure development for the Tan Trao Industrial Zone and the Hai Phong LNG Thermal Power Plant, which will be Vietnam's largest and one of the world's leading power plants in terms of capacity.

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The Tan Trao Industrial Zone Infrastructure Development Project is spearheaded by Vinhomes Hai Phong Industrial Park Investment Joint Stock Company. Spanning nearly 227 hectares in Kien Hung and Nghi Duong communes, the project’s first phase boasts an investment of over VND 4,000 billion.

Scheduled for completion within five years (Q2/2025 to Q2/2030), Tan Trao Industrial Zone will emerge as a cutting-edge industrial and technological hub. Its advanced infrastructure aims to attract diverse sectors, including electrical engineering, electronics, telecommunications, pharmaceuticals, supporting industries, new materials, clean energy, and renewable energy. Notably, the zone is poised to attract tens of thousands of highly skilled professionals from Vietnam and abroad.

Nestled within Tan Trao Industrial Zone, the Hai Phong LNG Thermal Power Plant project is jointly developed by Vingroup Corporation and VinEnergo Energy Joint Stock Company. Covering nearly 100 hectares, this VND 178,000 billion initiative promises significant energy contributions.

Slated for a five-year construction period, the plant is expected to commence operations by late 2030. It will generate 9.6 billion kWh/year (Phase 1) and 19.2 billion kWh/year (Phase 2), powering both Tan Trao Industrial Zone and the national grid. This project will enhance grid stability, reduce reliance on traditional energy sources, and bolster Vietnam’s energy security.

With a designed capacity of 4,800 MW (1,600 MW in Phase 1 and 3,200 MW in Phase 2), this plant will be Vietnam’s largest thermal power facility, as outlined in the Government’s Power Master Plan VIII. It will also rank among the world’s leading LNG-based power plants.

LNG-generated electricity offers substantial environmental benefits, producing minimal SO₂ emissions, no dust, and significantly lower NOx levels compared to coal or oil-based power. This aligns with global sustainability goals.

Previously, Vingroup successfully launched the VinFast Automobile Manufacturing Complex in Cat Hai (June 2019), significantly contributing to Hai Phong’s GRDP growth. Beyond industrial ventures, Vingroup has partnered with the city on key projects, including Hoang Gia Bridge and four mega-urban developments, reinforcing its commitment to Hai Phong’s progress.

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