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$7.5bn worth of coal-fired power plants planned for Vietnam

May 30, 2017

By Paul Homewood


Vietnam is to set to go ahead with three new coal power plants, to be financed by Japan, South Korea and Saudi Arabia.

From PEI:



The Vietnamese government is set to approve investment licenses for three coal-fired power plants worth a combined $7.5bn.
The country continues to rely on coal power and hydropower to securely meet the country’s annual
electricity demand growth of 11 per cent.
Two of the projects by Japanese, South Korean and Saudi Arabian investors are expected to receive licences ahead of Vietnamese Prime Minister Nguyen Xuan Phuc’s visit to Japan next month, investment minister Nguyen Chi Dung told Reuters on Tuesday.

Details provided by the investment ministry showed South Korea’s Taekwang Power Holdings Co. and Saudi Arabia’s ACWA Power would invest $2.07bn for a 1,200 MW thermal power plant.
Each investor would have a 50-percent stake in the plant and commercial operation is expected to start in 2021.
Japan’s Marubeni Corp and Korea Electric Power Corp would invest $2.79bn in a 1,200-megawatt plant, with operation expected to start in 2021. The investors will also share half of the investment each.
Japan’s Sumitomo Corp would invest about $2.64bn into a 1,320 MW plant, with an expected starting date of 2022, the ministry said. This project was expected to get its licence later this year, the ministry said.

  1. May 30, 2017 10:47 am

    Vietnam is heading for the first world whilst the UK is headed for the third world.

    • dave permalink
      May 30, 2017 11:20 am

      Like Schumpeter’s concept of “the Capitalist Hotel.” Which is always full, but the guest-list changes all the time.

      It is one of the errors of Champagne Socialists to take the room service for granted, even while the Manager is deciding you have to be ejected because your credit card is maxed.

  2. May 30, 2017 12:33 pm

    Reblogged this on Climatism and commented:
    “Vietnam is heading for the first world whilst the UK [Australia, Europe and the virtue-signalling West] is headed for the third world.” Reader Phillip Bratby

    Bizarrely true statement.

  3. tom0mason permalink
    May 30, 2017 12:40 pm

    Well done Vietnam!
    Green the world and feed the world with a CO2 enhance atmosphere.

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