3:38:22 PM | 17/9/2008
State-owned oil monopoly PetroVietnam group has recently submitted to Prime Minister Nguyen Tan Dung for approval a plan to invest in a 1,200-MW Vung Ang 1 thermal power plant in central Ha Tinh province, the Vietnam Economic Times newspaper reported.
The proposal came after PetroVietnam reached an agreement with the project’s current investor, the Vietnam Machinery Installation Group (LILAMA), to hold a 70 per cent stake of the plant while Lilama and other shareholders will own the rest of 30 per cent.
Kicked off in Dec of 2006 in central Ha Tinh province, the two-turbine project costing US$1.2 billion has only completed site clearance due to the investor’s capital shortfall, the paper said.
PetroVietnam is now focusing investment on electricity production to make the group’s power output represent 30 per cent of the national electricity capacity in the coming time.
Nearly 10 projects that are slated for operation in 2008 and 2009 in Vietnam may lag behind their schedules due to investment shortage, which may worsen the national power thirst after 2012. (Vietnam Economic Times)
Vietnamese
