Vietnam Kinh Bac Co., Vinacomin to Form JV for 600-MW Coal-fired Power Plant
Kinh Bac City Development Share Holding Corporation (KBC) will set up a joint venture with the state-owned Vietnam National Coal-Mineral Industries Group (Vinacomin) to carry out the construction of a 600-MW coal-fired power plant in the northern province of Bac Giang.
The joint venture will have a registered capital of US$160 million. KBC will contribute US$81.6 million or a 51% stake between 2010 and 2011, and Vinacomin will contribute the remaining 49%.
The 600-MW coal-fired power plant in Bac Giang will cost US$800 million.
Information about the plant’s output, time for groundbreaking and completion has not yet been made available.
In the first half of this year, KBC made a net profit of VND168 billion on gross revenue of VND327.4 billion, down 65.1% and 57%, respectively, against the same period last year. (CafeF)
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