A Thai state-owned group is seeking investment opportunities to plug gaps in three major power projects in Vietnam.
Nghi Son thermopower illustration photo
In talks with Minister of Industry and Trade (MoIT) Vu Huy Hoang last week, EGAT International Company governor Sutat Patmasiriwat said the firm was interested in building the 1,200 megawatt coal-fired Nghi Son thermopower plant 2 at Nghi Son power centre in northern Thanh Hoa province’s Nghi Son Economic Zone, a 750MW combined gas-fired power plant in southern Can Tho city’s O Mon district and a coal-fired thermopower plant in central Quang Tri province.
“The government of Thailand is boosting energy investment into neighbouring countries including Vietnam. It has also financed EGAT for its power projects abroad. So, EGAT’s financial health is quite good,” Patmasiriwat said.
Hoang said the Vietnamese government would create all favourable conditions for EGAT, a subsidiary of the Electricity Generating Authority of Thailand, to join these three projects. They would be built under the build-operate-transfer (BOT) model, because this firm was greatly experienced in constructing and operating power plants.
He said Nghi Son 2 had yet to have an investor, while the remaining projects were under preparation for bidding. The MoIT would help EGAT to visit project sites.
At present, EGAT’s total power capacity at its plants in and outside of Thailand is 15,000MW, equal to 50 per cent of Vietnam’s existing supply. Vietnam needs $49 billion to invest into the power industry from now to 2020 and $75 billion in between 2021-2030, while the country’s investment capital remained humble, the MoIT reported.
In a similar development, EGAT also wants to build a 1,200MW coal-fired thermopower plant in central Binh Dinh province. However, this plan may turn to dust.
The province’s Economic Zone Authority head Man Ngoc Ly last week told VIR this project would not be accepted because it did not belong to the province’s plan to develop more thermo electricity projects. In May and July, this year, EGAT worked with the provincial people’s committee about project possibilities, with all coal materials to be imported and environmentally friendly technologies used.
At the July meeting, EGAT representatives showed their wish to ink a memorandum of understanding (MoU) with the committee soon on constructing this project on 100-120 hectares. However, before EGAT, two Thai investors including Rayong Purifier Public Company and STFE Company Ltd signed an MoU with the committee for Rayong to develop a $2 billion oil refinery, with an annual capacity of six million litres of oil, and for STFE to build a 700MW coal-fired thermoelectricity plant, in Nhon Hoi Economic Zone’s non-tariff area.