$2 billion Thai Binh LNG Thermal Power Plant to start construction in September

$2 billion Thai Binh LNG Thermal Power Plant to start construction in September

The investor of the $2-billion Thai Binh LNG Thermal Power Plant is required to kick off construction in September.

$2-billion Thai Binh LNG Thermal Power Plant planned to start construction in September

This was requested by Nguyen Manh Hung, Chairman of Thai Binh People’s Committee at the meeting with the investor – the consortium of two Japanese firms, namely Tokyo Gas and Kyuden International, and Truong Thanh Group JSC.

According to the investor’s report, the consortium is accompanying the departments and relevant authorities to complete the feasibility report, land revocation and land clearance.

After receiving clear land, the investor will start the construction of the operation centre and transport infrastructure. The consortium commits to the project's timely execution. The consortium is currently finalising investment plans and mobilising resources to ensure a smooth start to construction.

During the construction phase, the venture is estimated to generate approximately VND3.6 trillion (over $142 million) in annual tax revenue for the state budget. Once operational, the annual tax revenue is projected to exceed $158 million.

The province prioritised this initiative as a key driver of local socioeconomic development. Provincial leaders have committed to supporting the initiative's implementation and resolving any challenges faced by the investors.

Thai Binh LNG has a strong capability of a consortium of investors. Tokyo Gas, established in 1885, is renowned as one of Japan's largest gas companies, holding a significant position in the global gas industry.

Currently, supplying gas to over 11 million customers in Japan, Tokyo Gas is a major liquefied natural gas (LNG) provider for prominent cities such as Tokyo, Kanagawa, and Chiba. To date, Tokyo Gas has participated in over 35 overseas LNG terminal projects and 20 LNG terminal projects in Japan, sharing its expertise and knowledge with numerous countries worldwide.

Kyushu Electric Power Company (Kyuden), established in 1951 with a registered capital of $2.2 billion and total assets exceeding $46.6 billion, ranks among the top five power plant developers in Japan.

VIR