Samsung to build Vietnamese CCGT
South Korea’s Samsung C&T on February 2 said it had won a 610bn won ($510mn) contract from PetroVietnam Power (PV Power) to build a gas-fired power plant in Vietnam.
According to the deal, Samsung C&T will build the Nhon Trach 3 and 4 combined cycle gas turbine power plant in partnership with Vietnamese firm Lilama. The total construction cost is 1 trillion won of which Samsung C&T’s share of the contract is 610bn won.
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PV Power, a unit of state-run PetroVietnam, last year signed a deal to allow two banks to arrange a loan of $1.4bn for the power projects. According to PV Power, Nhon Trach 3 and Nhon Trach 4 will have a capacity of 1.5 GW each and will be located in Dong Nai province’s Nhon Trach district.
Samsung C&T is also building the Thi Vai LNG terminal, which will supply regasified LNG to the two power plants.
The southeast Asian nation is promoting gas-fired power as it moves away from coal and oil-based generation. At present, Vietnam does not import any LNG but expects to begin buying the fuel this year, the country’s minister of industry and trade Nguyen Hong Dien said in a pre-recorded video address posted on YouTube on September 10 ahead of the 10th LNG Producer-Consumer Conference.