Vinacomin has increased investment in the energy sector, especially thermal power. Its projects include Na Duong, Cao Ngan, Mao Khe and Cam Pha thermal power plants, two of which will very soon join the national power grid, helping ease electricity shortage in the country.
According to experts, Vinacomin investment is of strategic importance and high socio-economic efficiency. The projects will meet the energy demand of a fast growing economy and will increase power supply in the dry season.
Vinacomin is developing coal-fired power in the north-eastern province of Quang Ninh. Together with the development of small-scale hydro power and renewal power projects in remote areas, it will contribute to socio-economic development and national strategy of energy security in new era.
The Vinacomin Electrical Equipment JSC is focusing on manufacturing twelve 110 KV transformers for the electricity industry and many products for the coal – minerals industry, worth VND145 billion. Among these, 11 products have been through international bidding. To win these contracts, the company had to compete with the three largest companies manufacturing transformers in Vietnam, namely Dong Anh Electrical Equipment Co., Thu Duc Electric Mechanical Co., and ABB Group, along with many other contractors.
International cooperation is one of the focuses of Vinacomin. Vinacomin cooperates with a South Korea Group - Posco Power Corp, which will take a 30 percent stake in Hanoi-based AES-VCM Mong Duong Power Co.,Ltd. The project is to develop a coal-fired electricity plant.
Besides, China Investment Corp will take a 19 percent interest, while Vinacomin will sell its 10 percent stake. AES-VCM is an indirect affiliate of US-based power producer AES Corp, a Fortune 500 company that will retain 51 percent interest in the project, down from 90 percent. The Mong Duong 2 plant in Quang Ninh province will be developed under a build-operate-transfer (BOT) framework, meaning it will be transferred to government ownership after 25 years of operation.
Construction is expected to begin in the middle of this year, with commercial production from the end of 2014. Mong Duong 2 will be Vietnam's first coal-fired BOT project and the largest private-sector power project in the nation to date.
Vinacomin Power Corporation and its Japanese counterpart Marubeni Corp, a leading power company in Japan, have been discussing a project to build a 2,400 megawatt capacity coal-fired power station in Nghe An province.
The project has been agreed in principle by the Government. Vinacomin is the investor. It is divided into two phases, Quynh Lap 1 and Quynh Lap 2. Each phase has a capacity of 2x600 megawatts.
Once the agreement is signed, Vinacomin Power Corporation will undertake the necessary procedures, namely establishing a project development company, completing investment projects, technical design documents, selecting EPC contractor, and arranging capital for the project. It will co-ordinate with Marubeni to develop Quynh Lap 1 Coal-Fired Power Plant. Construction is scheduled to start next year and be completed by 2016.
Huong Giang
Vietnamese
