RoK firm invests in coal-fired power project in Vietnam
The board of the Korea Electric Power Corporation (KEPCO) of the Republic of Korea (RoK) endorsed investment in a project involving Korean and Japanese companies to build a coal-fired power plant in Vietnam, according to AJU, a RoK business newspaper.
Photo Courtesy of KEPCO (Source: https://www.ajudaily.com/)Hanoi (VNA) - The board of the Korea Electric Power Corporation (KEPCO) of the Republic of Korea (RoK) endorsed investment in a project involving Korean and Japanese companies to build a coal-fired power plant in Vietnam, according to AJU, a RoK business newspaper.
KEPCO has set to complete the construction in January 2025.
KEPCO said its board has approved the planned purchase of a 40 percent stake in the construction of a 1,200-MW coal-fired power plant called Vung Ang 2 in the central province of Ha Tinh.
Samsung C&T, a key unit of Samsung Group, and Doosan Heavy Industries & Construction of the RoK will participate in design, procurement and construction operators.
Originally, the project worth 2.2 billion USD had involved Japan's Mitsubishi and CLP, an electric company based in Hong Kong. As CLP withdrew its participation from the project, KEPCO decided to buy a 40-percent stake held by CLP.
AJU said the annual growth rate of electricity demand in Vietnam has been faster than in other Southeast Asian countries. Electricity from fossil fuels still plays a key role in Vietnam's total power capacity.
KEPCO, which has invested in a coal-fired power station project in Indonesia, said it would use new technologies to minimise carbon emissions and install additional eco-friendly facilities for the Vung Ang 2 power plant./.
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