Sumitomo keen to invest in US$3.8 billion thermal electric power plant

Since 2006, Japanese Sumitomo Group has asked to invest in a US$3.8 billion coal-run thermal electric power plant with a capacity of 2,640 MW in Ninh Hoa district, the central province of Khanh Hoa.

The 175 ha project will be carried out under the Build-Operate-Transfer (BOT) model as agreed by Khanh Hoa province, the Ministry of Industry and Trade (MoIT) and the Sumitomo Group.

The MoIT will help Sumitomo readjust the project in line with BOT regulations and contracts so it can apply for an investment permit. Khanh Hoa province has agreed to provide water from the Tien Du lake for the plant.

Khanh Hoa is expected to hand over the project to Sumitomo in the second quarter of next year.

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