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| Leaders of Posco Group, Korea working at the Ministry of Industry and Trade, morning of November 20, 2024. |
On the morning of November 20, 2024, at the headquarters of the Ministry of Industry and Trade, Deputy Minister Nguyen Hoang Long worked with Mr. Kim Dae Yeon, Vice President in charge of Electricity Business Development of Posco Group.
Posco is a large steel manufacturing corporation in Korea. The Group has expanded its business scope globally, especially in Asia, including Vietnam.
According to Mr. Kim Dae Yeon, Posco International, as an integrated business company under Posco Group, focuses on various fields such as energy, steel, agriculture and new business activities.
For the Vietnamese market, Posco International has experience in operating Mong Duong 2 Power Plant and is looking forward to investing in the Quynh Lap LNG Power Plant project in Nghe An.
“Posco will always be a good partner and accompany the Vietnamese Government in the energy sector,” said Mr. Kim Dae Yeon.
Deputy Minister Nguyen Hoang Long highly appreciated the cooperation between Vietnam and Korea, especially the contributions of Korean enterprises including Posco investing and developing in Vietnam in the fields of industry and energy.
Besides answering questions from Posco representatives about Vietnam's regulations on investment and development of LNG power plants, Deputy Minister Nguyen Hoang Long pledged to always create favorable conditions for Korean enterprises to effectively invest and do business in Vietnam in many fields, including energy.
The Quynh Lap LNG gas-fired thermal power plant project in Hoang Mai town, Nghe An, with a capacity of 1,500 MW, is one of the important projects for national power development in the 2021-2030 period, with a vision to 2050. The project is expected to be put into commercial operation before 2030.
The total investment of the project is about more than 2 billion USD. The scale of investment and construction of the project includes the following items: LNG power plant, gas storage, receiving port, breakwater and auxiliary works. The total area of the project is 210-360ha.
The project's goal is to produce and generate electricity to the national power system with a capacity of 1,500MW, and the fuel demand is to import LNG gas of about 1.15 million tons/year.
Recently, the People's Committee of Nghe An province submitted a document to the Provincial People's Council to approve the list of land plots for bidding to select investors to implement this project. It is expected that the investor approval procedure will be completed in the first and second quarters of 2025, after which a bidding will be organized to select investors.
Nghe An Province Department of Planning and Investment informed that it has received 5 sets of documents from 5 investors, including both domestic and foreign investors.
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