|Work starts on $577m thermal power plant|
HA NOI • Work has started on a US$577 million Mao Khe thermo-electric plant in northern Quang Ninh Province.
When it comes on stream in 2012, the Viet Nam National Coal and Mineral Industries Group (Vinacomin) plant is expected to add about 2.6 billion kWh annually to the national grid.
Coal mined in the Mao Khe, Trang Bach, Khe Chuoi and Hong Thai areas within the province will drive two turbines with a total capacity of 440MW.
The company, which said the use of modern technology and equipment meant the plant meets environmental standards, signed a $429.5 million engineering project management construction contract with China’s Wuhan Kaidi Electric Power Co.
The contract made Kaidi responsible for design, equipment provision and transport, construction to trial, human resource training and equipment maintenance during construction. Vinacomin has a credit contract for $56 million from the Viet Nam Export-Import Joint Stock Commercial Bank. Repayment, with interest rates from 4.5-4.8 per cent is within 13 years.
The Government urged Vinacomin to build thermo-electricity plants, including Mao Khe, to improve electricity supplies.
General director Tran Xuan Hoa said the group’s turnover last year was VND50 trillion ($2.8 billion), an increase of 31 per cent on 2007. It had forecast a turnover of VND47 trillion for this year. • VNS
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