GE to supply infrastructure for Vietnam’s power sector
General Electric Company signs deals worth US$86 million to bolster Vietnam’s ailing power sector.
GE signed two deals with Vietnamese companies during the visit to Vietnam of Secretary of State Hillary Clinton. The company will supply one steam turbine generator for a 660 megawatt thermal power plant of Cong Thanh, a private Vietnamese company.
The plant will be located in the Nghi Son Economic Zone in Thanh Hoa province. The project includes US$36 million in US export content.
GE will also work with the Vietnamese National Power Transmission Corporation to supply electricity transmission capacitors to the company in a three-phase project worth US$50 million. The capacitors should help Vietnam increase energy efficiency and better regulate its national energy grid.
Vietnam said last year it will pursue an agreement with the US on civilian nuclear technology and welcomed overseas assistance, potentially signaling greater access for American companies including GE.
Trade between the US and Vietnam grew from US$1 billion in 2001 to almost US$22 billion 2011, with a 17% increase in exports from 2010 to 2011.