The northern province of Nam Dinh will facilitate the construction of a 2,400MW thermal power plant in Hai Hau district beginning in 2014, a local senior official has said.

According to Chairman of the Nam Dinh People’s Committee Nguyen Van Tuan, the 4.5 billion USD project, which is 95 percent funded by the Republic of Korea’s Taekwang Vina Company and 5 percent by Vietnamese partners, will cover an area of 251ha in Hai Ninh and Hai Chau communes.

The plant will be built in two phases. Two turbines with a total capacity of 1,200 MW will be built in 2016-17, while the two others, with the same capacity, will be built in 2020-21.

The plant will operate under a BOT (build-operate-transfer) form for 25 years, with an estimated revenue expected to reach 25 billion USD.

Pham Quoc Khanh, Deputy Head of the Nam Dinh’s Department of Planning and Investment, Taekwang Vina is arranging financing, contracts for the plant, especially BOT contracts, as well as approving the feasibility report.

The province commits to helping clearance at the plant site, he added.
Chairman Tuan called the plant one of the key tasks in the province’s socio- economic development plan in 2014.-VNA