Vietnam's Quang Trach 1 power plant awaits $1.2B funding
A financial arrangement is being negotiated for the construction of Quang Trach 1 thermal power plant.
The two-turbine plant requiring US$1.2 billion in total investment capital has a combined capacity of 1,200 MW and is located in Quang Trach District in the central province of Quang Tri.
PetroVietnam Construction Joint Stock Corporation is seeking loans from Japan’s Sumitomo Corporation to allowthe power plant to start early next year.
“PVC is working with Sumitomo on loan arrangement issues so that it could deploy the project in early 2013 as scheduled. If the deal is finalized, Sumitomo will take the responsibility to mobilize capital and provideequipment packages for the project as a major supplier,” Vice chairman Nguyen Ngoc Quy said.
As per the Prime Minister’s instruction, Quang Trach 1 alongside Song Hau 1 and Quynh Lap 1 power projects willuse locally-made designs and equipment on a trial basis.
PVC said it will place orders for certain construction items from local subcontractors such as a wastewatertreatment factory, safe cooling and coal supply system. Meanwhile, Lilama will be in charge of all works relating to steel structure processing and manufacturing and installment activities.
It is expected that the plant when in place in 2015 will supply an additional 8.5 billion kWh annually to thenational power grid.