Works started on Quang Ninh liquefied natural gas power project

On Oct. 24, Quang Ninh province commenced the construction of a liquefied natural gas (LNG) power project worth a total of VND47.4 trillion in Cam Pha city.

Covering an area of 56 hectares, including 13.38ha offshore, in Cam Pha city, the Quang Ninh LNG power project will include a power plant with the capacity of 1,500MW, gas storage, and an LNG port with an annual capacity of 2.4 million tonnes, as well as relevant infrastructure.

The project has a total investment capital of over VND47.4 trillion (US$2 billion). Upon its completion, the plant is expected to provide approximately 9 billion kWh of electricity to the national grid per year and submit roughly VND 57,700 billion to the local budget within 25 years.

This is the first power project using imported liquefied natural gas in the North, which will contribute to building Quang Ninh into a service and industrial province and one of the dynamic and comprehensive development centres of the North.

At the groundbreaking ceremony, Chairman of Quang Ninh province granted the investment certificate to the joint venture of PV Power, Colavi, Tokyo Gas, and Marubeni who had overcome all project requirements to be allowed to complete the dossier for the investment certificate.

In his speech, Chairman of the Quang Ninh provincial People's Committee, Nguyen Tuong Van, said in addition to its strengths in minerals and tourism, in the near future, Quang Ninh will focus on developing green, clean and eco- friendly power sources, with the best commitment to supporting the project toward gradually turning Quang Ninh province into one of the major power centers of the nation.

On behalf of the provincial leaders, he committed to offer the investors favorable conditions to successfully implement the project.

Investors were also asked to ensure the project’s timely completion and strictly conform to all relevent laws and regulations.