Government says there are cheaper energy alternatives.
Vietnamese government surprised the nuclear industry as it announced the abandonment of plans to build the 4000MW nuclear power plants, saying that there are cheaper energy alternatives and citing sluggish power demand.
State newspaper Tuoi Tre said in its report that the National Assembly will lay down its approval for the decision by late November.
The legal body approved the construction of two nuclear power plants with total generating capacity of 4,000 MW 7 years ago. Russian companies were given the contract to build the first plant while Japanese firms obtained that for the second plant.
Construction of the plant has been delayed numerous times, which was initially scheduled to begin in 2014. Earlier that year, the government postponed the construction to 2020.
Le Hong Tinh, vice chairman of the National Assembly's Science, Technology and Environment Committee, was quoted by the state-controlled newspaper saying that the hike in plant construction costs to $18b was another reason to abandon the plans.
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