South Korean consortium expected to win $4.8 bn LNG power plant order in Hai Lang, Quang Tri Province, Vietnam
A consortium of South Korean state and private utility suppliers is most likely procure a 5.5 trillion-won ($4.8 billion) contract to build a liquefied natural gas (LNG) power station in Vietnam as it has been the sole bidder to the public infrastructure project.
According to multiple industry sources on Sunday, a Korean consortium led by Korea Gas Corp., Hanwha Energy Corp., and Korea Southern Power Co. is currently awaiting a final nod from the Vietnamese government in its bid for an LNG power plant project in Hai Lang, Quang Tri Province.
The Korean sole consortium turned out to be the sole competitive bidder in the tender placed last month.
The near $5 billion LNG power project involves building an LNG power plant across a 1.2 million square meter space in Quang Tri Province along the central coast. The first phase of the project – worth 2.5 trillion won – is to build a 1,500-megawatt (MW) power plant. Total project cost is expected to reach 5.5 trillion won when including second and third phases.
The Vietnam government has been actively seeking to expand other energy facilities ranging from LNG to solar power and wind power in line with the expansion in the economic activities. The government plans to up energy capacity from 69.3GW in 2020 to 137.7GW in 2030 and up to 233.8GW in 2040.
In March, GS Energy was also named to build a 3,000MW LNG power plant in Long An in Vietnam.
Shares of KOGAS rose 5.9 percent to close at 37,700 won on Monday.
Source: https://m.pulsenews.co.kr/view.php?year=2021&no=858010
