Daewoo Engineering and Construction, a construction giant from South Korea, reportedly plans to develop a coal-fired thermal power plant in the southern province of Long An at a projected cost of US$2.7 billion.
The Korean developer will build the 1,320-megawatt plant, operate it within a certain time and then transfer it to local authorities, Tuoi Tre newspaper said on Friday, citing the People's Committee of Long An.
Last year Korea Electric Power Corporation and its Vietnamese partner Vinakobalt Co., Ltd. reportedly sought the government's permission to develop a 1,600 MW thermal power plant also in Long An.
The $3.17 billion project was too slated to be executed under a build-operate-transfer agreement with Long An's authorities, according to local media.
Vietnam is on course to have an installed capacity of 75,000 MW by 2020, with 46.8 percent from coal plants, 24 percent from gas plants and 19.6 percent from hydropower plants. Renewables will make up 4.5 percent and nuclear power, 2.1 percent.