GENCO 3 inks deal with GE for LNG power plant
GENCO 3 inks deal with GE for LNG power plant
American multinational General Electric and Vietnamese electricity firm GENCO 3 have signed a deal to build a liquefied natural gas-fired power plant in Ba Ria-Vung Tau.
The General Electric Co. logo is seen on the company's corporate headquarters building in Boston, Massachusetts, U.S., July 23, 2019. Photo by Reuters/Alwyn Scott.
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The signing ceremony for the Long Son plant took place in Hanoi on Sunday with U.S. national security advisor Robert O’Brien, who was on a three-day visit to Vietnam, in attendance, the American embassy in Hanoi said in a press release.
The plant will be built in the southern province of Ba Ria-Vung Tau and have a capacity of 3,600-4,500 MW.
GE would look to supply gas turbines and associated equipment and services for the project worth more than $1 billion, the statement added.
Pacific Corporation, Power Engineering Consulting Joint Stock Company 2, conglomerate TTC Group, and Japanese multinational Mitsubishi Corporation, will also participate in the project.
This is the fourth LNG power project U.S. investors have signed up to in Vietnam in just the past month.
Last month, on the occasion of the 2020 Indo-Pacific Business Forum in Hanoi, Vietnamese and American government agencies and businesses signed deals for three major LNG power plants and one LNG terminal.
The government is drafting a new national power plan for the next decade that will include 22 LNG power plants with a combined capacity of 108.5 GW, with the first to be commissioned in 2023.
