Business

New thermal power plant approved in Quang Binh province

Prime Minister Nguyen Xuan Phuc recently gave in-principle approval to the Quang Trach 2 thermal power plant project, the Quang Binh provincial People’s Committee said on February 22.
New thermal power plant approved in Quang Binh province ảnh 1The  Quang Trach 2 thermal power plant project (Photo: VNA)
Quang Binh (VNA) - Prime MinisterNguyen Xuan Phuc recently gave in-principle approval to the Quang Trach 2thermal power plant project, the Quang Binh provincial People’s Committee saidon February 22.

Invested by the Vietnam Electricity Group (EVN), the projectis located in Vinh Son hamlet in Quang Dong commune, Quang Trach district.

It will have a total capacity of 1,200 MW and cost more than 48 trillion VND (over 2 billion USD), 38 trillion VND, or80 percent, of which will come from loans.

Its first turbine is scheduled to be put intouse in 2028 and the second one year later.

Similar to the Quang Trach 1 thermal power plant,which is still under construction, Quang Trach 2 will contribute to localsocio-economic development, the provincial People’s Committee noted, addingthat when operational, it will help increase budget revenue and create jobs.

Also based in Vinh Son hamlet and invested by EVN,Quang Trach 1 has a total investment of 1.8 billion USD and a capacity of 1,200 MW.

Its construction is being accelerated so thatthe first turbine will become operational in June 2024./.
VNA
#in-principle approval #Quang Trach 2 thermal power plant #Quang Binh #EVN #Vietnamplus #Vietnam news #Vietnam News Agency Quang Binh
Follow VietnamPlus

Related News

Deputy PM urges construction of 500kV transmission lines

Deputy PM urges construction of 500kV transmission lines

Deputy Prime Minister Trinh Dinh Dung laid stress on the urgent need to build 500kV transmission lines running through Ha Tinh, Quang Binh, Quang Tri, Thua Thien-Hue, Da Nang, Quang Nam, Quang Ngai, Kon Tum and Gia Lai to meet increasing power demand, especially in the south.
EVN needs 93.2 trillion VND for power projects this year

EVN needs 93.2 trillion VND for power projects this year

The Electricity of Vietnam (EVN) needs total investment capital of 93.2 trillion VND (3.97 billion USD) for power projects this year and it will focus all resources to ensure the progress of such projects, according to the group.
Quang Binh asked to improve business environment to lure more investors

Quang Binh asked to improve business environment to lure more investors

Quang Binh should give greater attention to administrative reform as well as e-government and smart city building, thus creating a transparent and open business environment to lure more investors, stated Deputy Prime Minister Trinh Dinh Dung at the central province’s investment promotion conference on January 18.

See more

Tran Ngoc Quan, Trade Counsellor and head of the Vietnam Trade Office in Belgium and the EU (Photo: VNA)

Belgian firms suggested to expand presence in Vietnamese market

Entering 2026 – the first year of implementing the Vietnam – EU Comprehensive Strategic Partnership, the Vietnam Trade Office in Belgium and the EU views this as a pivotal time to inject new momentum into trade ties, said Trade Counsellor Tran Ngoc Quan.

Saigon Marina IFC, an emerging landmark, reflects Ho Chi Minh City’s pioneering spirit.

Saigon Marina IFC – The light of Ho Chi Minh City’s new icon

Saigon Marina IFC, an emerging landmark, reflects Ho Chi Minh City’s pioneering spirit. Designed to become an International Financial Centre, this new architectural icon along the Saigon River is envisioned not only as a premium commercial complex, but as a central platform supporting financial institutions, international investors and cross-border capital flows in the years ahead.

Shoppers at a supermarket in Hung Yen (Photo: VNA)

Retailers see tax compliance, AI as key to survival in 2026 survey

The annual survey, conducted at the end of 2025 among retail and food and beverage (F&B) sellers nationwide, found that businesses are shifting their focus from rapid growth to operational efficiency, cost control and legal compliance amid increasingly stringent regulatory standards.

Visitors shop at Glorious Spring Fair 2026 (Photo: VNA)

Spring Fair 2026 opens broader prospects for Vietnam–UAE trade cooperation

For Vietnam, the UAE serves not only as a consumer market but also as a gateway to the Middle East and North Africa. Vietnamese agricultural products such as cashew nuts, pepper, cinnamon and rice have steadily gained market share, while aquatic products, including tra fish and tuna, are increasingly present in the UAE’s hospitality sector.

Bao Viet Bank's employee counts Vietnamese banknotes at a transaction counter in Hanoi. (Photo: VNA)

Credit quota reform, tighter capital rules may widen gap among banks

Yuanta Vietnam Securities estimates that to achieve GDP growth above 10%, credit growth would need to exceed 16%. This suggests bank credit is no longer expected to be the main growth driver, with greater reliance on fiscal policy, public investment and capital markets.

Commercial Counsellor Do Viet Phuong, Head of the Vietnam Trade Office in Cambodia. (Photo: VNA)

Spring Fair 2026 offers ample room to deepen Vietnam–Cambodia trade ties

Cambodia holds substantial potential for cooperation in agro-processing and exports, especially in key products such as rice, cashew nuts and rubber. In recent years, the country’s cultivation area and agricultural output have grown steadily, providing a stable raw material base for processing industries.

Vietnam is projected to have approximately 2.4 million SMEs, accounting for over 98% of the country’s total enterprises. (Photo: cafef.vn)

Banks offer diverse solutions to support SMEs

With an increasingly significant role in the economy, the small and medium-sized enterprise (SME) sector is becoming a key segment in the credit growth strategies of many banks and the banks have been taking diverse solutions to support the enterprises.