HCMC – PetroVietnam Construction Joint Stock Corporation (PVC) is in talks with Japan’s Sumitomo Corporation over a financial arrangement plan so as to start work on the Quang Trach 1 thermal power plant early next year, said a senior executive of the local company.
Quang Trach 1 power plant awaits fund to start up next year
By Van Nam - The Saigon Times Daily
HCMC – PetroVietnam Construction Joint Stock Corporation (PVC) is in talks with Japan’s Sumitomo Corporation over a financial arrangement plan so as to start work on the Quang Trach 1 thermal power plant early next year, said a senior executive of the local company.
Vice chairman Nguyen Ngoc Quy of PVC told the Daily last week that his company and partner Vietnam Machinery Installation Corporation (Lilama) had got approval from the Prime Minister to carry out the project.
According to Quy, the two-turbine plant requiring US$1.2 billion in total investment capital has a combined capacity of 1,200 megawatts and is located in Quang Trach District in the central province of Quang Tri.
“PVC is working with Sumitomo on loan arrangement issues so that it could deploy the project in early 2013 as scheduled. If the deal is finalized, Sumitomo will take the responsibility to mobilize capital and provide equipment packages for the project as a major supplier,” Quy said.
As per the Prime Minister’s instruction, Quang Trach 1 alongside Song Hau 1 and Quynh Lap 1 power projects will use locally-made designs and equipment on a trial basis.
PVC said it will place orders for certain construction items from local subcontractors such as a wastewater treatment factory, safe cooling and coal supply system. Meanwhile, Lilama will be in charge of all works relating to steel structure processing and manufacturing and installment activities.
It is expected that the plant when in place in 2015 will supply an additional 8.5 billion kWh annually to the national power grid.