Japanese Giants Sign Deals worth US$3.75 Bln for Power Projects in Vietnam

Three Japanese giants namely Sumitomo, One Energy of Mitsubishi, and Marubeni has recently inked deals worth US$3.75 billion with Vietnamese partners to build thermal power and wind-to-power plants in Vietnam, during the ongoing five-day visit by Vietnam’s President Nguyen Minh Triet to Japan.

 

Sumitomo signed an agreement valued at US$1.25 billion with Vietnam Machinery Installation Corporation (Lilama), to jointly build 1,200-megawatt Vung Ang 1 thermo-power plant in central Ha Tinh province.

 

Lilama plans to operate turbine 1 of the plant in March 2011 and put in use turbine 2 in September of the year.

 

One Energy of Mitsubishi will join hands with Vung Ang 2 Joint Stock Company and Refrigeration Electrical Engineering Corp. (REE) to build the 1,200-MW Vung Ang 2 thermo-power plant also in Ha Tinh, via a contract worth US$1.25 billion.

 

Marubeni group clinched a deal worth US$1.5 billion with the Saigon Investment Joint Stock Company (Saigon Invest) to build thermal and wind-to-power plants in central Binh Dinh province.

 

Vietnam’s biggest biggest wind-to-power plant, Phuong Mai 3 is under construction in Binh Dinh province. The 14-turbine plant costs US$35.7 million to generate 55 million kWh of electricity annually.