Consortiums invited to get involved in Nghi Son LNG venture

Nghi Son Economic Zone Management Authority has invited five consortiums of contractors to participate in bidding to implement the Nghi Son liquefied natural gas (LNG)-fired thermal power plant.

This marks the central province of Thanh Hoa's third major project after its oil refinery and petrochemical complex and a thermal power plant.

The five investors invited included a joint venture between JERA and Sovico, and a consortium of Korea Southern Power Company, Korea Gas Corporation, Daewoo Engineering & Construction Group, and Anh Phat Construction and Trading Investment.

The three others were Gulf Energy Development, SK E&S Co., Ltd., and a joint venture between Vietnam Oil and Gas Power Corporation and T&T Group.

Located in Nghi Son town, the project is expected to cost over $2.4 billion, with a 50-year implementation period and commercial operation slated before 2030. The investors’ minimum equity capital requirement is $362.5 million.

The project, spreading across 68 hectares, will include a 1,500MW LNG power plant, an LNG import port, a 1km-long wave barrier, and supporting infrastructure for the port.

To secure the bid, the interested participants must have a Letter of Guarantee from a credit institution or foreign bank branch established under Vietnamese law.

There will not be a pre-bidding conference. The timeline to open the bidding is 3pm on September 30, which is delayed compared to the initial plan. Nghi Son Economic Zone Management Authority in December 2023 initially approved the investment policy and wanted to select the investor by the second quarter of 2024.

Thanh Huong

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