Vietnam to award nuclear plant contract to Japan

Will accelerate cooperation, a major step towards a contract.

The agreement places Japan in a more favorable position to secure a contract to build Vietnam’s nuclear power station at Vinh Hai in Ninh Thuan province. Both signed an agreement in 2010 to build the plant but the Fukushima nuclear disaster of March 2011 delayed a final contract.

The Japanese firms have combined to form the JINED consortium consisting of the Ministry of Trade and Industry; nine utilities led by Chubu, Kansai and Tokyo Electric Power Company and three manufacturers (Mitsubishi Heavy Industries, Toshiba and Hitachi).

Part of the Japanese offer is finance and insurance for up to 85% of the total cost of the Vinh Hai project, which could include four large reactors.

JINED has completed a feasibility and is to present this in the middle of this month. Vietnam’s Ministry of Science and Technology said that as part of the package offer, Japan is supporting the ministry in developing a regulatory body and providing training in radiation safety and nuclear law.