Connect with us

Asean

China to invest $1.75 billion to build Vietnam power plant

China will invest a whopping USD 1.75 billion in energy-hungry Vietnam to build a 1,200-MW thermal power plant that will help promote the neighbouring communist nation’s economic development. Chinese enterprises will build the new units at Vinh Tan 1 thermal power plant in Vietnam’s southern Binh Thuan province, state-run People’s Daily reported. With a total investment of USD 1.75 billion, the contruction of the plant, reportedly the largest project in Vietnam operated by Chinese companies, is expected to be completed in four years. It is a joint investment venture of China’s Southern Power Grid Company, China Power International Development Company (95 per cent of investment) and the Power Corporation under the Vietnam National Coal-Natural Industries Corporation. The project includes two generating units, with each 600 megawatts. The first unit will be put into use by the end of 2018, and the second one will be operated six months later. The plant, which is constructed under the build-operate- transfer contract, will help increase the power supply, create jobs, promote economic development and improve people’s livelihood, said Hu Zucai, deputy director of the National Development and Reform Commission of China, before the opening ceremony of the construction of Vinh in Hanoi on July 18. Vietnam is struggling to meet its increasing energy demand and has been cutting coal exports to save the fossil fuel for its use. In the first half of this year, Vietnam’s coal exports dipped an estimated 76.3 per cent from a year ago to 1.08 million tonnes. By moneycontrol.comThe post China to invest $1.75 billion to build Vietnam power plant appeared first on Asean Investment | Marc Djandji Blog.

Published

on

Vietnam Investment

China will invest a whopping USD 1.75 billion in energy-hungry Vietnam to build a 1,200-MW thermal power plant that will help promote the neighbouring communist nation’s economic development.

Chinese enterprises will build the new units at Vinh Tan 1 thermal power plant in Vietnam’s southern Binh Thuan province, state-run People’s Daily reported. With a total investment of USD 1.75 billion, the contruction of the plant, reportedly the largest project in Vietnam operated by Chinese companies, is expected to be completed in four years.

It is a joint investment venture of China’s Southern Power Grid Company, China Power International Development Company (95 per cent of investment) and the Power Corporation under the Vietnam National Coal-Natural Industries Corporation.

The project includes two generating units, with each 600 megawatts. The first unit will be put into use by the end of 2018, and the second one will be operated six months later. The plant, which is constructed under the build-operate- transfer contract, will help increase the power supply, create jobs, promote economic development and improve people’s livelihood, said Hu Zucai, deputy director of the National Development and Reform Commission of China, before the opening ceremony of the construction of Vinh in Hanoi on July 18.

Vietnam is struggling to meet its increasing energy demand and has been cutting coal exports to save the fossil fuel for its use. In the first half of this year, Vietnam’s coal exports dipped an estimated 76.3 per cent from a year ago to 1.08 million tonnes.

By moneycontrol.com

The post China to invest $1.75 billion to build Vietnam power plant appeared first on Asean Investment | Marc Djandji Blog.

Continue Reading
Click to comment

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Top Posts

Recents

United States1 week ago

Huawei Sues the U.S. for Restricting Business With Federal Agencies

China1 month ago

Chinese investors spent $2.3 bln in Thai property in 2018

Chinese investors have continued pouring their money into Thailand’s property sector even as the kingdom barrels toward an uncertain national election. See author's...

China4 months ago

US–China trade war : will there be a winner ?

The U.S. and China are hours away from a new round of tariffs on each other’s goods, with no improvement...

Economics4 months ago

Trumping financial risks in Asia

Twenty years after the Asian financial crisis of 1997–98 and the global financial crisis of 2007–08, storm clouds are gathering...

Companies4 months ago

Thai Startup Event Banana

Event banana, a Thai start-up based on event venues and its online marketplace, has recently been able to raise about...

Business4 months ago

营商环境报告:东亚经济体继续大力推进改革议程改善营商环境

世界银行集团今天发布的《2019年营商环境报告:强化培训,促进改革》称,东亚太平洋地区各经济体继续大力推进改革议程,在过去一年里实施了43项改革以改善中小企业的营商便利度。 bsullivan See author's posts Related

News6 months ago

What are US-China Trade War Implications for Thailand ?

What are the implications of a US-China for Thailand? Will the economy be hit by global market disruption? Or could...

China6 months ago

China dominates Asian Economies

China, world’s second-largest economy stands tall with US$ 25.3 trillion and is up by 9% from 2017 followed by India...