KOREA ELECTRIC POWER

A015760
End-of-day quote. End-of-day quote  - 11/26
22050KRW -0.90%

Construction on Vietnam's Vung Ang 2 coal plant to begin in December

10/26/2021 | 01:53am

HANOI (Reuters) - Vietnam will begin construction on the controversial Vung Ang 2 coal-fired power plant this December, a company spokesman and local media said on Tuesday, as the country presses ahead with plans to increase its fossil fuel power production.

The investor, Vung Ang II Thermal Power LLC (VAPCO), has completed necessary procedures for the $2.2-billion project to go ahead, deputy chief executive officer Hoang Trong Binh told the Vietnam Finance newspaper.

The 1,230-megawatt plant in the central province of Ha Tinh has been a focus of global calls to phase out fossil fuels to help reduce global greenhouse emissions.

Vung Ang 2, largely owned by Mitsubishi Corp and Korea Electric Power, is scheduled to start commercial power generation in the third quarter of 2025, Binh said.

South Korea's Doosan Heavy Industries & Construction and Samsung C&T were among the construction contractors involved in the project, he added.

A VAPCO spokesman said construction work on the project would start on December 5.

Vietnam's Deputy Prime Minister Le Van Thanh in a statement on Monday called on its miners and relevant authorities to boost domestic coal production as the country grows more reliant on imports.

Vietnam may double the amount of coal-fired electric generation it installs by 2030 under a draft plan submitted to the prime minister for approval earlier this month.

(Editing by James Pearson)

© Reuters 2021
Copier lien
All news about KOREA ELECTRIC POWER CORPORATION
11/14
11/12
11/03
10/26
10/19