The PetroVietnam Power Corporation (PV Power) has approved an investment plan to build Nhon Trach 3 and 4 thermal power plants with combined capacity of between 1,300-1,760 MW.
The plants will be constructed in the southern province of Dong Nai with an estimated investment of over 32.48 trillion VND (1.39 billion USD).
In February 2020, PV Power signed a letter of authorisation with its foreign partners – Citibank and Ingbank – to arrange capital for the project.
The company also inked a contract with the PetroVietnam Gas Joint Stock Corporation (PV Gas) to provide and sold liquefied natural gas (LNG) for the project in mid-2019.
The construction of the plants is scheduled to commence in the second quarter of 2021.