Samsung C&T to Build US$940-million LNG Power Plant in Vietnam

• 23 March 2022
• Construction Focus
• 1189 Views

South Korean contractor Samsung C&T and Vietnamese firm Lilama will invest US$940 million to build one of Vietnam’s first liquefied natural gas (LNG) power stations, reported GCR.

The US$940m engineering, procurement and construction deal was announced by Lilama in mid-March, and will include the construction of two 750MW plants at an existing site in the southern province of Dong Nai.

The two plants, Nhon Trach 3 and 4, will be developed over the course of 36 months and are scheduled to go online between 2024 and 2025.

Whether it will be Vietnam’s first LNG plant depends on progress at an even larger plant in Long An province, to the east of Ho Chi Minh City. This is being built by a consortium led by South Korea’s GS Energy and local developer VinaCapital.

Other LNG plants are planned by Singaporean company Delta Offshore Energy in the Mekong delta province of Bac Lieu in 2024 and Exxon Mobil hopes to build the largest of them all: a $5bn plant in the northern port city of Haiphong.

The recent increase in LNG plant projects in Vietnam is being driven by a looming power shortage caused by Vietnam’s rapid industrial growth, and a move away from coal plants.

• Projects Development
• Energy and Environment