Vingroup forms a consortium to develop an LNG power project on more than 98 hectares in Hai Phong

(Dan Tri) - The Hai Phong LNG Thermal Power Plant project has a land use area of ​​about 98 hectares with a designed capacity of 4,800 MW.

The Board of Directors of Vingroup Corporation (stock code: VIC) has just approved the participation in a consortium and signed an investment cooperation contract with VinEnergo Energy Joint Stock Company. The purpose is to jointly participate in the Hai Phong LNG Thermal Power Plant project (Tan Trao Industrial Park, Kien Thuy District, Hai Phong City).

The project has a land use area of ​​over 98.5 hectares. The total designed capacity is 4,800 MW. Of which, phase 1 of the project will invest with a capacity of 1,600 MW and phase 2 will deploy the remaining 3,200 MW. The operating period is not more than 50 years from the time of approval.

Previously, in March, Vingroup proposed adding the 5,000MW LNG thermal power plant project in Hai Phong to the revised Power Plan 8. If added to the plan, this plant is expected to be invested and built within 5 years (2025-2030), with a total capital of about 5.5 billion USD.

Thi Vai LNG terminal is the first LNG port in Vietnam belonging to PV Gas (Photo: PV Gas).

In the newly adjusted Power Plan 8 issued in April, the Ministry of Industry and Trade added the Hai Phong LNG power project Phase I with a capacity of 1,600 MW for the 2025-2030 operation period according to the commitment of the Hai Phong City People's Committee in the document dated March 26.

VinEnergo began operations in March with its main business being electricity production. On June 10, VinEnergo announced that Mr. Pham Nhat Vuong - the controlling shareholder of the company, is expected to transfer more than 70.6 million VIC shares he personally owns to contribute capital to VinEnergo during the period from June 16 to July 15. VinEnergo's ownership after the transaction will increase to more than 105.6 million VIC shares, equivalent to 2.72% of Vingroup's shares.

Before Vingroup, several large corporations such as ExxonMobil and JERA also proposed LNG projects in Hai Phong since 2020, but most of them are still in the research stage or waiting for planning.

Source: https://dantri.com.vn/kinh-doanh/vingroup-lap-lien-danh-lam-du-an-dien-khi-lng-hon-98ha-tai-hai-phong-20250611140238873.htm