PetroVietnam Approved to Invest in 2,400-MW Quang Trach Power Center
The Vietnamese Ministry of Construction recently gave green light to the state-owned oil monopoly PetroVietnam group to invest in 2,400-MW Quang Trach power center in central Quang Binh province, the Labor newspaper reported, citing the ministry's sources.
The center is among 13 power projects with a combined capacity of 13,800 MW that the state-owned Electricity of Vietnam Group (EVN) refused to invest in because of severe capital shortage.
The project is scheduled for construction at a cost of US$2.4 billion in Hon La area of Quang Trach district with an expected completion in 20015-2016.
Information about the project’s estimated output and the time for groundbreaking, however, has not yet been made available.
EVN needs over VND43 trillion (US$2.6 billion) for power projects in 2008, however, it has mobilized nearly VND36 trillion (US$2.18 billion).
Two weeks after EVN gave back the 13 projects, PetroVietnam officially asked to undertake the 13 projects. However, the MOIT has decided to grant the projects to many investors. (Labor)
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