A $2.2 billion deal for a liquefied natural gas power plant has been signed in Khanh Hoa province, the first such venture selected through an international bidding process under the National Power Development Plan VIII.
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On April 10, Khanh Hoa People’s Committee and the Trung Nam–Sideros River investor consortium signed the contract to implement the Ca Na Liquefied Natural Gas (LNG) power plant. The project aims to supplement energy supply, ensure national energy security, and meet growth requirements.
The plant is designed to use the combined-cycle gas turbine technology with a capacity of 1,500 MW. It is expected to supply around 9 billion kWh per year to the national grid.
It will also feature an LNG storage and regasification system with a capacity of 1 to 1.2 million tonnes per year and a storage tank of 220,000 cubic metres. Other facilities include an LNG import terminal, a 2,400m-long eastern breakwater, and supporting infrastructure.
The site covers nearly 140 hectares of land and water surface, with total capital estimated at over VND57 trillion ($2.2 billion). The venture is scheduled to be completed and operational by 2030.
Trinh Minh Hoang, Vice Chairman of Khanh Hoa People’s Committee, said, “This is a key venture in the energy sector. Once operational, it is expected to make a significant contribution to the local budget while creating employment and shifting the economic structure towards industry and energy.”
At the event, Ca Na Port and Vietnam Development Bank signed a credit contract for phase one of the port project, with maximum mobilised capital of VND3 trillion (approximately $114 million) and a commitment to full disbursement by July 2027.
The port is planned as a deepwater facility capable of receiving vessels of 300,000 to 500,000 tonnes. It also aims to develop a multimodal logistics system and a transshipment centre serving import and export activities, particularly for energy sectors including wind power, offshore wind power, and super-long and super-heavy cargo.
Nguyen Tam Thinh, chairman of Trungnam Group, said, “By implementing these two ventures, we are committed to accompanying Khanh Hoa province in establishing an infrastructure chain of port, terminal, LNG power plant, and a green industrial park in the near future.”
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