Provincial leader meets Sumitomo Corporation

Nghiem Xuan Thanh, Member of the Party Central Committee, Secretary of Khanh Hoa Provincial Party Committee had a meeting on November 21 with Sumitomo Corporation and Van Phong Power Company Limited about the operation of Van Phong 1 BOT Thermal Power Plant and its development orientation. Present at the event were Dinh Van Thieu, Vice-Chairman of the Provincial People's Committee and leaders of relevant departments and agencies.

According to Nguyen The Vinh, Chairman of the Board of Members of Van Phong Power Company Limited, Van Phong 1 BOT Thermal Power Plant with a total capacity of 1,320 MW has been in commercial operation since October 2023. The project has a total investment of USD2.58 billion, reaching an output of 434 million kWh in 2023, contributing more than VND 631 billion to the State budget.

Sumitomo Corporation representatives give a souvenir to Secretary of the Provincial Party Committee Nghiem Xuan Thanh.

The output in 2024 is expected to reach 6.6 billion kWh with a revenue of USD760 million. A representative of Sumitomo Group also proposed the direction of implementing the Van Phong 2 LNG Power Plant project with a capacity of 1,500 MW.

Speaking at the meeting, Secretary of the Provincial Party Committee Nghiem Xuan Thanh affirmed that Khanh Hoa Province always accompanies and supports the company in production and business. The Provincial Party Committee Secretary hopes that Van Phong 1 BOT Thermal Power Plant would increase its electricity production in 2025 by 10 -12% compared to 2024.

The meeting with Sumitomo Corporation.

Regarding the proposal of Van Phong 2 LNG Power Plant project of Sumitomo Corporation, the province will consider building a strategic plan to report to the Government and ministries to establish a clean energy center in Van Phong to contribute to local economic growth and increase the budget revenue.

This initiative aims to draw more foreign investment projects, thereby boosting local socio-economic growth.

D.L

Translated by N.T