Toyo Ink Group agrees to terms with Hau Giang province to build 2,000 MW coal-fired plant.
The Hau Giang People’s Committee and the Toyo Ink Group from Malaysia have signed a contract for the Hau River Thermal Power Plant 2 in the Mekong Delta province, to be built under the build-operate-transfer (BOT) mode and with a capacity of 2,000 MW.
According to Mr. Song Kok Cheong, Chairman of the Toyo Ink Group, the project is a milestone in the cooperation between the two sides and was also the quickest project negotiated, at just 15 weeks.
Mr. Trinh Xuan Thanh, Deputy Chairman of the Hau Giang People’s Committee, pledged to work closely with investors and stakeholders in issuing an investment license and beginning construction on schedule.
The Hau River Thermal Power Plant 2 is part of the National Power Development Plan for the 2011-2020 Period, which was approved by the Prime Minister in Decision No. 1208 in 2011.
The project has total investment capital of $3 billion and is one of three thermal power projects located at the Song Hau Power Center.
It is expected to come into operation in 2018 and be fired by imported coal. It will connect to the national grid, ensuring energy security and developing the economy of the country as well as the Mekong Delta.
For nine years Toyo Ink has sought investment opportunities in a power plant in Vietnam. After much preparation, in 2012 it gained approval from the Vietnamese Government to invest in the thermal power plant project on the Hau River for 25 years.