The Vietnamese government has just approved a proposal to build a 2,400-megawatt coal-fired power plant in Hai Ninh and Hai Chau communes, Hai Hau district, Nam Dinh Northern province to help meet the country’s increasing demand.

The plant is a Build Operate Transfer (BOT) joint venture between Hoang Anh 05 Shipbuilding Industry Joint Stock Company (Hashinco) and South Korea’s Taekwang Vina Industrial. It will operate within 25 years.

Director of Taekwang Vina Industrial, Mr Park Yoen ChaPark said that the Company is negotiating with relevant agencies of the country in the matter of electricity trading, saying that the upcoming plant will making around 25 billion USD during its operation.

Taekwang Vina Industrial is expected to complete the first stage of the plant in 2017 (with the capacity of 1,200 megawatt) and the second stage in 2021 (with the same capacity of 1,200 megawatt).

The ratio of capital contribution for the project is 95% for Taekwang Vina Industrial and 5% for Hashinco.