The 100-hectare plant in the northern city of Hai Phong, with a capacity of 4,800 megawatts, operates under a joint venture by Vingroup and VinEnergo, a company owned by Vingroup chairman Pham Nhat Vuong.
It is expected to be operational by 2030, adding a major supply to the national grid.
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An artist’s impression of Hai Phong LNG Power Plant. Photo courtesy of Vingroup |
LNG, which stands for liquefied natural gas, reduces emissions, dust and toxic gases compared to coal and oil, contributing to the transition to cleaner energy.
The plant is located at Tan Trao Industrial Park, which was broken ground on the same day.
The park covers 227 hectares with a price tag of VND4 trillion and developed by Vingroup’s property arm Vinhomes.
Construction is scheduled over five years, aiming to turn the area into a hub for new industries and technologies, attracting tens of thousands of high-quality workers.
Speaking at the groundbreaking ceremony, Prime Minister Pham Minh Chinh said that both projects hold vital significance, as they aim to advance industrial development, attract foreign investment, and expand green energy.
He urged that the industrial park be developed quickly and prioritized for high-tech clients.
Regarding the LNG power plant, the PM called for swift handling of procedures so that it could be completed in 2029 – one year earlier than planned – while ensuring cooperation with foreign investors for technology transfer and gradually mastering the technology.
“Vingroup should push up progress while ensuring quality, safety, technical and artistic standards and environmental hygiene, aiming to create many high-quality jobs for Hai Phong.”
Nguyen Viet Quang, vice chairman and CEO of Vingroup, said that the synergy between the industrial park and the power plant will attract investments and sustainable development.
Vingroup envisions this synchronized development model being replicated nationwide to support the national goals of industrialization and modernization.
Hai Phong is a major manufacturing hub for Vingroup’s automaker VinFast, with its factory put into operation in 2019, becoming a key driver of the city’s economic growth and making the city one of the top performing localities in recent years.
