Power plant construction begins after 5-year delay
Construction of the Hai Duong-Vietnam thermo power plant officially kicked off on March 27 in Hai Duong province’s Phuc Thanh commune after a five-year delay.
The power plant will have two 600MW-steam turbines run by JAKS Hai Duong Power Company Ltd under the Malaysia-based JAKS Resources Berhad Group and the China Power Engineering Consulting Group. It has a total capital investment of US$1.86 billion.
According to an agreement signed in July last year, the Hai Duong power plant, built under the Build-Operate-Transfer (BOT) model, will be handed to the Vietnamese government after 25 years of operation. |
The thermo power plant, covering an area of more than 300ha spread over Phuc Thanh, Quang Trung and Le Ninh communes in Kinh Mon District, was approved by the Vietnamese Government in August 2011.
Yet the failure of joint venture co-operative agreements between the investor, JAKS, and Malaysian companies Island Circle Investment Holding Ltd and Sanjung Merpati Sdn Bhd, as well as China-based energy firms Wuhan Kaidi Electric Power Engineering Co and Meiya Power Ltd, left the project up in the air for nearly five years.
The power plant marked the first project by JAKS group in Vietnam’s power generation industry.
