TheEngineering, Procurement and Construction (EPC) contract has 85 percentof its capital co-funded by the Korean Eximbank (KEXIM), the Korea TradeInsurance Corporation (K-Sure), the Japan Bank for InternationalCooperation (JBIC). The remaining 15 percent are covered by theproject’s investor EVN Power Generation Company 3, EVN Genco 3.
Witnessing the signing ceremony in Hanoi on December 23, Deputy PrimeMinister Hoang Trung Hai said around a third of the contract’s workload,including the engineering task, will be undertaken by local engineersand technicians, allowing them to absorb new technologies transferred byglobal giants.
Construction of the two-turbineplant, located in the central province of Binh Thuan, about 250 km fromHo Chi Minh City, is expected to begin in the first quarter of 2014.
The plant’s first turbine is planned for operation in the fourthquarter of 2017 and the second, by the end of the third quarter in 2018.
It will use a thermal technology that isenvironmentally friendly, meeting Vietnamese and international standardson emissions.
Once operational, the plant is projected to generate around 7.2 billion kWh for the national grid.
The Vinh Tan Power Station is comprised of four thermal power plantswith a combined capacity of 5,600 MW. It will generate power mostly forthe southern central region and localities in the south.-VNA