Korea's POSCO Energy gets green light to build $2.5b plant in Vietnam

This is its second coal-fired thermal plant in the country.

South Korean energy producer POSCO Energy has secured the government's approval to build its $2.5b coal-fired thermal power plant in Vietnam. The 1,200MW plant is the group's second in the country.

Under the deal, POSCO Energy will start the construction in 2022 upon raising the needed capital. The plant is slated to be completed by 2026, and the company will operate it for 25 years and supply power to Electricity of Vietnam Group. The plant will be located 270km south of Hanoi. 

POSCO Energy started operating in Vietnam in 2015.