China Power Engineering Consulting Co. (CPECC), a subsidiary of Energy China, has started construction on the 1,200MW Hai Duong Thermal Power Plant in Vietnam.
The project will involve an investment of around $1.87bn. CPECC holds 70% stake in the project, while Jaks Resources Berhad has the remaining 30% stake.
It is located in Hai Duong Province, 60km away from Vietnam’s capital city Hanoi.
The construction of the power plant includes two 600MW subcritical generating units and four circulating fluid bed boilers.
The thermal power plant is being constructed in a build-operate-transfer (BOT) model, with a construction period of 54 months. The concession period of the BOT contract is 25 years.
Within the concession period, profits from selling electricity will be divided among the shareholders in proportion to the number of shares owned. At the end of the concession period, the plant will be transferred to Vietnam’s Ministry of Industry and Trade.
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