Bidding cancelled for proposed $2.4 billion Nghi Son LNG power plant

Nghi Son Economic Zone Management Authority had invited five consortiums to participate in bidding for the implementation of the project in August, but following the September 16 Decree No.115/2024/ND-CP, which concerns the selection of investors for projects using land under the Law on Bidding, the organisers will now have to redraft new documents to match with the new decree.

The five investors previously invited to bid include a joint venture between JERA and Sovico, and a consortium of Korea Southern Power Company, Korea Gas Corporation, Daewoo Engineering & Construction Group, and Anh Phat Construction and Trading Investment.

The three others were Gulf Energy Development, SK E&S Co., Ltd., and a joint venture between PetroVietnam and T&T Group.

Located in Nghi Son town, the project was expected to cost over $2.4 billion, with a 50-year implementation period and commercial operation slated before 2030. The minimum equity capital requirement for investors was set at $362.5 million.

The project will span 68 hectares and include a 1,500MW LNG power plant, a 1km sea barrier, a port, along with the necessary supporting infrastructure.

Indonesia's Ministry of Maritime Affairs and Fisheries (MMAF) has held a press conference to inform about the country’s progress in the early decommissioning of the Cirebon-1 thermal power plant.

Thai Binh authorities are working with the investor to complete site clearance for a $2 billion LNG power plant in the northern province by January 2025.

Toyo Ink Group Bhd and its Vietnamese subsidiary, Song Hau 2 Power Company Limited, have obtained a loan worth $980 million from Eximbank Malaysia to implement the Song Hau 2 Thermal Power Plant Project.

Nghi Son Economic Zone Management Authority has invited five consortiums of contractors to participate in bidding to implement the Nghi Son liquefied natural gas (LNG)-fired thermal power plant.