Japanese firms, EVN to build 2,000-MW power plant in Binh Thuan

Mitsubishi Corp., Japan’s largest trading house, and CLP Holdings Ltd. will join forces with Vietnam’s state-owned utility to build a coal-fired power plant in this country.

Hong Kong-based OneEnergy, a joint venture between Mitsubishi and CLP, would set up a venture with Electricity of Vietnam to build the plant in the southern province of Binh Thuan, OneEnergy said in a faxed statement.

Vietnam is under pressure to speed up construction of power infrastructure to end shortages.

The country buys electricity from China to keep pace with growing demand, particularly during summer, when domestic output from hydroelectric plants falls.

“The project’s close proximity to Ho Chi Minh City, its natural deep-harbor characteristics and the strong market fundamentals of Vietnam combine to make it an exceptional opportunity,” OneEnergy CEO Mark Takahashi said in the statement.

The 2,000-megawatt plant will be located in the Vinh Tan Power Complex.

Construction is due to start in late 2010 with operations to begin by 2014, the statement said.

The companies have not disclosed the cost of the plant though the Nikkei English news reported today that investors would spend about 200 billion yen (US$2 billion) for the plant.

Thanhnien

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