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US$6.7bil project gets investor
Prime Minister Nguyen Tan Dung assented that the Tan Tao Investment and Industry JS Company would be the investor of projects belonging to the $6.7 billion Kien Luong power plant complex.
This complex will include the 1,200MW Kien Luong 1 Power Plant, which is scheduled to begin running in 2013-2014, the Kien Luong Power Plant 2, which has a 1,200-2,400MW capacity and is scheduled to begin operating in 2015-2016, and the Nam Du deep-water port.
PM Nguyen Tan Dung instructed the Ministry of Industry and Trade and the People’s Committee of Kien Giang province to support Tan Tao in the implementation of the project under official regulations and processes.
Kien Luong will be the largest thermo-power project in Vietnam and the first power project invested in by a non-state company.
In early April 2008, Tan Tao Group announced it would build the Kien Luong Thermo-power Centre in the southern province of Kien Giang and contribute 20% of capital; the remaining was to come from foreign partners and be mobilised through the issuance of converted bonds.
However, several weeks later, the Ministry of Industry and Trade said the Kien Luong Thermo-power Centre project didn’t meet criteria for being approved and it was inaccurate that Tan Tao was the investor of this $6.7 billion project.
VNN
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