South Korea’s Samsung C&T said it has secured a contract from PetroVietnam Power, a unit of PetroVietnam, to build a new power plant that will run on LNG.
Under the deal, Samsung C&T will build the Nhon Trach 3 and 4 combined cycle power plant plants as part of a consortium with Vietnamese contractor Lilama.
According to Samsung C&T, the company’s share of the contract is worth about $510 million while the total construction costs stand at $835 million.
Also, the project scope includes gas and steam turbines, heat recovery steam generators, substations, and power transmission lines, it said.
Samsung C&T is also building the Thi Vai LNG terminal in the coastal area southeast of Ho Chi Minh City.
This facility will supply the Nhon Trach 3 and 4 plants. PetroVietnam Gas, a unit of state-owned PetroVietnam, previously said it had planned to import the first liquefied natural gas cargo via this terminal in 2022.
On the other side, PetroVietnam Power said in November it broke ground on the two LNG power plants in the southern province of Dong Nai worth about $1.4 billion.
The Nhon Trach 3 and 4 plants will have a total capacity of 1,500 megawatt (MW).
PetroVietnam Power plans to launch commercial operations at the plants by 2024.
