Consortium seeks Ha Tinh support to accelerate Vung Ang III LNG plant

Consortium seeks Ha Tinh support to accelerate Vung Ang III LNG plant

The consortium developing the $2 billion Vung Ang III Liquefied Natural Gas Power Plant has requested support from Ha Tinh authorities to accelerate land allocation and leasing procedures.

Vung Ang III LNG Power Plant in Ha Tinh

The joint venture, comprising Vietnam Oil and Gas Power Corporation, Vietnam Machinery Installation Corporation, and B.Grimm Power Public Co., Ltd, made the proposal during a meeting with the Ha Tinh People's Committee on June 25. The consortium is seeking assistance with land allocation, land lease, and sea surface allocation to accelerate the project.

The investors requested Ha Tinh People's Committee to propose favourable policies to ensure the project's viability, support land allocation and lease procedures, and invest in a 500kV transmission line connecting the plant to the national grid. They also called for accelerating the liquefied natural gas (LNG) storage facility, completing exploitation of the Cup Bau sand mine, and providing support for levelling materials for construction.

The project received investment approval from Ha Tinh People's Committee on June 9. The plant will have a capacity of approximately 1,500 MW, with total estimated investment of VND51.43 trillion ($2 billion), utilising more than 51.7 hectares of land and nearly 16 hectares of sea surface.

In August, the investor will establish a project company and submit the feasibility study and detailed 1/500-scale construction plan for appraisal. The first 750-MW generating unit is expected to begin commercial operations in the first quarter of 2031, with the second unit planned for the second quarter of 2032.

Once completed, the plant is expected to become one of the key energy facilities in the north central region, supporting national energy security and Power Development Plan VIII.

VIR