23.07.2020, 16:07

T&T Group seeks approval to build $3.5bln LNG-fired power plant

T&T Group seeks approval to build $3.5bln LNG-fired power plant

The group plans to build the LNG Vung Ang 3 Power Complex in province’s Ky Anh Town near Vung Ang Economic Zone under the investment form of independent power plant.

Covering nearly 124 hectares of land, excluding 100 hectares of water surface, the power plant will have total output capacity of 3,000 megawatts.

The project construction will be conducted in 2 phases. The first phase from 2028-2029 will have output capacity of 1,500MW, with a total investment of $1.7 billion.

The second phase will be carried out after 2030 with a capacity of 1,500MW. Total investment will be $1.85 billion. Estimated electricity selling price for this period is 8,629 cents / kWh.

Beside proposing the project to Ha Tinh Provincial People’s Committee, T&T Group also submitted the project to the Ministry of Industry and Trade to consider and report to the government.

Last year, the group also sought approval from authorities in the north-central province of Quang Tri to build a $4.4 billion power plant that uses liquefied natural gas.

The plant was said to cover nearly 120 hectares of land in the outlying district of Hai Lang, within the Quang Tri Southeastern Economic Zone.

The Quang Tri-based power plant has an initial output of some 1,200-1,500 megawatts and will later raise it to 2,400-3,000 megawatts. The first phase is scheduled to begin operations in 2028.

T&T Group was established in 1993, operating in 7 main groups and sectors, including finance and investment, real estate, industry and trade, agriculture, forestry and fisheries, transport infrastructure, seaport and logistics, minerals, energy and environment, health, education and sports.

T&T Group is headed by Do Quang Hien. He is also the chairman of Saigon – Hanoi Commercial Joint Stock Bank (SHB).

Charter capital of T&T Group is VND15 trillion with more than 70 member companies, joint ventures and associates throughout the country and internationally.

Source: VietnamFinance