Thai Binh is ready for the LNG thermal power project: A breakthrough in energy security.
Thai Binh province recently held a meeting with Tokyo Gas Group (Japan) and Truong Thanh Group of Vietnam – the joint venture investing in the Thai Binh LNG Thermal Power Plant project. The project is expected to be a breakthrough in the field of clean energy.
Speaking on behalf of the consortium of investors, Mr. Kasutani, Deputy General Director of Tokyo Gas Group, said that the consortium is currently working closely with the consulting firm to finalize legal procedures and develop a detailed investment plan.
Simultaneously, the investor is mobilizing all necessary resources, including finance, human resources, technology, machinery, and modern equipment, to prepare for the commencement of the plant's construction. Tokyo Gas expressed its hope that the leaders of Thai Binh province would continue to support the land clearance process and resolve any arising difficulties to ensure the project's progress.
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| Chairman of the People's Committee of Thai Binh province, Nguyen Khac Than, held a working meeting with leaders of Tokyo Gas Group (Japan) and Truong Thanh Group of Vietnam. |
During the meeting, Chairman of the Thai Binh Provincial People's Committee Nguyen Khac Than affirmed that this is a key project of significant importance to national energy security, while also promoting the socio -economic development of Thai Binh province and the northern region. Therefore, the project has been included in the list of key projects of the province, with close guidance from the provincial leadership to ensure progress and promptly resolve any obstacles.
The leaders of the Thai Binh Provincial People's Committee also highly appreciated the fact that the consortium of investors had adhered to the set schedule, especially in completing legal procedures and preparing investment resources. “Thai Binh province is committed to providing maximum support to ensure the project's smooth implementation, including handing over a clean site according to the agreed schedule. Thai Binh will also continue to work with the Government and relevant ministries and agencies to resolve difficulties related to mechanisms and policies in order to create the best conditions for the project,” Mr. Than affirmed.
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The Thai Binh LNG Thermal Power Plant project is invested by a consortium of Tokyo Gas Corporation, Kyuden Electric Power Company (Japan), and Truong Thanh Group of Vietnam. The plant has a designed capacity of up to 1,500 MW with a total investment of approximately US$2 billion. The project is expected to commence construction in the third quarter of 2025 and begin commercial operation before 2030.
The project not only brings economic benefits but also makes a significant contribution to the local budget. It is estimated that the total value of taxes paid to the state budget during the construction phase will reach approximately 3,600 billion VND. Once operational, the plant is expected to contribute an average of 4,000 billion VND annually to the budget through various taxes.
The Thai Binh LNG Thermal Power Plant project not only contributes to ensuring national energy security but also promotes local industrial and economic development. It is also a pioneering project in the use of liquefied natural gas (LNG), a clean and environmentally friendly energy source. The plant will not only provide a stable electricity supply for the region but also create job opportunities for local workers and promote sustainable socio-economic development in Thai Binh.
During the meeting, Thai Binh province and the consortium of investors agreed on specific plans and solutions to accelerate the project's progress, while also committing to mutual support during implementation. With thorough preparation and close cooperation between the local government and investors, the Thai Binh LNG Thermal Power Plant project is gradually moving closer to the groundbreaking phase, promising to make a significant contribution to the sustainable development of the locality and the nation.
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