The deal covers land allocation for the project.
Sembcorp Utilities has signed a memorandum of understanding (MOU) with the People’s Committee of Quang Ngai Province (Quang Ngai PC) today at the Viet Nam – Singapore Business Dialogue 2018 in Singapore.
The MOU covers the allocation of land by Quang Ngai PC to Sembcorp for the development of a 750-megawatt gas-fired power project in the Dung Quat Economic Zone, located in central Vietnam’s Quang Ngai province.
The MOU was signed by Trần Ngọc Căng, Chairman of Quang Ngai PC and Atul Nargund, Executive Vice President of Business Development (Energy Division) at Sembcorp and witnessed by His Excellency Nguyễn Xuân Phúc, Prime Minister of Vietnam and Lawrence Wong, Minister for National Development and Second Minister for Finance of Singapore.
This development follows the signing of a MOU between Sembcorp and Vietnam’s Ministry of Industry and Trade (MoIT) in March 2017, witnessed by Their Excellencies Prime Ministers of Singapore and Vietnam, for the development of this gas-fired power project under a 20-year build-operate-transfer arrangement. Under that agreement, Sembcorp has completed its feasibility study and has submitted the report to MoIT earlier this year for further review and evaluation.
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