China’s Wuhan Kaidi to build Vietnam power plant

China’s Wuhan Kaidi Electric Power Co. on Tuesday won a US$429.5 million contract from state-owned Vietnam National Coal-Mineral Industries Group to build a 440-megawatt thermal power plant.

Under the engineering, procurement and construction contract, Wuhan Kaidi will have 36 months to finish the first power-generating unit and 42 months to complete the second, according to a statement on the government’s website.

The Mao Khe thermal power plant, to be located in the northern coal-mining province of Quang Ninh, 165 kilometers (102.5 miles) northeast of Hanoi, will occupy a 72-hectare (178- acre) site, the statement said. Investment in the project will total more than $577 million.

The plant is expected to start generating power in 2012 with an annual output of about 2.6 billion kilowatts an hour.

Vietnam National Coal Tuesday also signed a $56 million credit agreement with Vietnam Export-Import Commercial Joint- Stock Bank for the project with a term of 13 years and annual interest rates ranging from 4.5 percent to 4.8 percent, according to the statement.

thanhnien, bloomberg

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