The management of Chan May LNG told Hue authorities at a recent meeting that it would be built in two phases, the first in 2024-2026 with a capacity of 2,400 megawatt, and the second in 2026-2028 with an additional 1,600MW.
The company’s CEO, John Rockhold, said earlier that the company had "big" support from the U.S. government for the project and has a number of LNG suppliers lined up.
When fully operational, the plant will import around $1.2 billion worth of LNG from the U.S. annually, which would help narrow that country’s trade deficit with Vietnam, he said.
The project will include a terminal capable of berthing 100,000-ton ships.
The company said it has raised the required money and has all the necessary resources to start building the plant.
Several other LNG power plants have been approved for construction or having feasibility studies done amid the rising power demand in Vietnam.
Singapore’s Delta Offshore Energy was licensed in January to build a LNG plant in the Mekong Delta province of Bac Lieu, with construction expected to start in 2024.
The northern port city of Hai Phong last month approved construction of a $5.09 billion LNG plant by the U.S.’s Exxon Mobil.