PetroVietnam to build $1.4 billion power plant

Vietnam Oil & Gas Group, known as PetroVietnam, will build a US$1.4 billion thermal power plant in the southern region, Thoi Bao Kinh Te Viet Nam (Vietnam Economic Times) reported, citing the state-owned company.

The coal-fired Long Phu No. 1 plant would be situated in Soc Trang Province and be part of a 4,400-megawatt complex which would consist of three plants, the newspaper said. The Long Phu No.1 unit is scheduled to go on stream in 2013.

With the government forecasting electricity demand to grow 13 percent this year, capacity needs to be increased if shortages are to be avoided.

thanhnien, bloomberg

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