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PetroVietnam inks deal for new power plant
The PetroVietnam Group inked a contract worth US$1.2 billion with Petro-Vietnam Technical Services Corporation (PTSC) in Ha Noi yesterday to build the Long Phu 1 coal-fired thermal power plant.
Under the contract, PTSC would provide engineering, procurement and construction for PetroVietnam's 1,200-megawatt plant in the Cuu Long (Mekong) Delta province of Soc Trang.
The contract marked an important step for the two sides to begin progress on the project, slated for January next year, said PetroVietnam deputy general director Nguyen Quoc Khanh.
It would be the first of three coal-fired power plants located in the provincial Long Phu Power Centre to begin construction.
To date, land clearance and the overall design for the 115-ha plant has been completed, he said, adding that it would use hi-quality coal imported from Indonesia and Australia.
During the signing ceremony, Deputy Minister of Industry and Trade Le Duong Quang spoke highly of PetroVietnam's efforts in ensuring the efficient funding and adequate coal supplies for the project.
He called on further efforts from the two sides to implement the project on schedule, ensuring that the plant's first turbine would be put into commercial operation in 2014, with the second section operational in 2015.
The two turbines set to provide an annual output of 7.8 billion kWh would help to better ensure power for the region and the country as a whole.
The ministry would also ask the Government and the Ministry of Transport to facilitate the plant's construction and operation, he said.
Late last week, the first turbine of Nhon Trach 2 thermal power plant, in the southern province of Dong Nai began generating electricity for the national grid, three months ahead of schedule.
The plant was invested in by PetroVietnam and contractors, the Viet Nam Machinery Erection Corporation (Lilama) and PetroVietnam Construction Joint Stock Corporation.
Viet Nam's power industry would have a total capacity of 20,900MW by the year-end. Of which, 10,400MW was provided by EVN from 2006-10. This marks a 1.98 increase on 2005's figure.
The average growth rate of residential electricity purchases from 2006-10 was 13.7 per cent, double the GDP growth rate.
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