Van Phong 1 BOT Thermal Power Plant to supply more energy for the country

Van Phong Power Company Limited on March 13 held the inauguration ceremony of Van Phong 1 BOT Thermal Power Plant. 

Van Phong 1 BOT Thermal Power Plant started construction in 2019 in Van Phong Economic Zone (Ninh Phuoc commune, Ninh Hoa town) with a total investment of nearly 2.58 billion USD, including 2 units with total capacity of 1,432 MW. The plant has a series of modern equipment, ensuring high efficiency while meeting strict Vietnamese and international environmental standards. The project is funded 100% by Sumitomo Corporation (Japan), invested in the form of BOT (Build - Operate - Transfer) and will be handed over to the Government after 25 years of operation.

When put into operation, BOT Van Phong 1 Thermal Power Plant is expected to provide about 8.5 billion kWh for additional electricity to the national grid each year, accounting for about 3% of the total national electricity output. With this energy source, the plant is a large source of supply for the Southern region and additional power supply to the Northern region.

Hirokazu Tsuru - General Director of Van Phong Power Company Limited affirmed that the strong support of the Central and local governments is one of the important factors contributing to the construction on schedule. The company especially appreciates all the support and assistance from the Government of Vietnam and Khanh Hoa province during the project development and construction process. “Van Phong Power Company Limited believes to contribute to Vietnam's economy and society through the stable operation of the plant as well as actively participating in community activities in the province", Hirokazu Tsuru emphasized.

BOT Van Phong 1 Thermal Power Plant

Van Phong 1 BOT Thermal Power Plant Project is the largest foreign-invested industrial project in Khanh Hoa now. The project has strong momentum and important significance in the socio-economic development of the province in general and Van Phong Economic Zone in particular. When the project is completed and put into operation, it will contribute to promoting investment attraction in Van Phong Economic Zone, developing local industry, creating a boost for the provincial economy and the South Central region, and creating many jobs, contributing about 1,000 billion VND to the local budget each year.

Chairman of the Provincial People's Committee Nguyen Tan Tuan said that the Provincial People's Committee appreciates the determination, perseverance, serious working spirit and compliance with Vietnamese legal regulations as well as the efforts to overcome difficulties of more than 5,000 officials and employees of Sumitomo Group and contractors implementing the project. Van Phong 1 BOT Thermal Power Plant was completed ahead of schedule and has made great contributions to the local community with social security programs, accompanying the people of Khanh Hoa province to overcome the Covid-19 pandemic. Recently, the project has contributed nearly 4,000 billion VND to the state budget. “For the upcoming phase of plant operation, Khanh Hoa Provincial People's Committee recommends that the officers and employees of Van Phong Power Company Limited continue to promote the spirit of solidarity, creativity, effort and coordination closely with central and local agencies, and with the Vietnam Electricity, making Van Phong 1 BOT Thermal Power Plant a safe, stable and sustainable bright spot in the national electricity system and to make many effective contributions to the local economy and society. In particular, during operation and maintenance, the company has to always pay attention to environmental protection and comply with Vietnamese legal regulations" - Nguyen Tan Tuan emphasized.

During its construction, the project has achieved more than 27.8 million safe labor hours. The investor always seriously applies international safety standards in construction work. During the past 4 years, Van Phong Electricity Company Limited has contributed more than 16 billion VND to the local social security program. In addition, during the construction phase, the project created jobs for nearly 2,000 workers in Khanh Hoa province, contributing to the socio-economic development of the province. At the inauguration ceremony of Van Phong 1 BOT Thermal Power Plant, Van Phong Power Company Limited awarded nearly 900 million VND to units in Ninh Hoa town to do social security work.

Dinh Lam
Translated by T.T