The Electricity Vietnam (EVN) and the Marubeni Corporation from Japan on December 26 inked a contract to build the main thermal power plant of the Thai Binh Power Station in the northern province of the same name.

The Engineering, Procurement and Construction contract is worth 819.6 million USD and 20 billion JPY (190.9 million USD).

At the signing ceremony in Hanoi, EVN General Director Pham Le Thanh said the project has an investment of 26.5 trillion VND (1.3 billion USD), 85 percent of which comes from the Japan International Cooperation Agency and the remainder from EVN.

The construction of the plant is scheduled to kick start in the first quarter of 2014.

The first turbine is expected to operate in the last quarter of 2017 and the second, in the second quarter of 2018. They will generate nearly 3.3 billion kWh each year.

The two-turbine plant is part of the two-plant Thai Binh Power Centre in Thai Thuy district, Thai Binh province.

On December 23, a contract to build the Vinh Tan Thermal Power Plant No. 4 in the central province of Binh Thuan was signed.

The Vinh Tan No. 4 and Thai Binh plants are among power projects to become operational in 2017-2018.-VNA