Malaysia Seeks Power Plant Partners

• 31 December 2015
• Local News
• 742 Views

Malaysia’s Toyo Ink Group Berhad is currently seeking partners for a $3.5 billion joint venture to develop the Song Hau 2 thermal power plant in South Vietnam, according to the country’s foreign investment agency report.

The BOT (Built–Operate–Transfer) project will have an anticipated capacity of 2,000 MW, and was initially agreed in 2013 via a MoU between the Vietnam Ministry of Industry and Trade’s Energy Department and Toyo Ink.

However, the project located in Hau Giang Province, has been stalled due to delays in finalising the search for partners. Vietnam’s foreign investment agency also stated that Toyo Ink began looking to invest in a Vietnam-based thermal power plant nine years ago.

According to the group’s calculation, the $3.5 billion project will generate revenue of about $970 million when it becomes operational in 2021.

The $3.5 billion Toyo Ink project investment helped bring the pledged foreign direct investment into Vietnam to $11.03 billion during the first nine months of 2015.