On March 1, the Ministry of Industry and Trade held a ceremony to hand over the Phu My 3 BOT power plant to Vietnam Electricity Group for exploitation and operation.

Phu My 3 Thermal Power Plant Project is the first 100% foreign-invested power source project under the public-private partnership (Build-Operate-Transfer Contract) assigned by the Vietnamese Government to foreign investors after opening up and integrating into the international economy .

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After receiving and transferring the factory, Vietnam Electricity Group will continue to exploit, operate and plan the factory annually. Photo: MOIT

The successful implementation of the project has demonstrated the correctness of the Party, State and Government's guidelines, policies and strategies in attracting foreign investment capital and diversifying investment methods for infrastructure projects serving the country's socio-economic development.

Pursuant to the provisions of law, the Ministry of Industry and Trade coordinated with the parties (Phu My 3 BOT Power Company Limited, Vietnam Electricity Group) to deploy and organize the signing of the handover minutes of Phu My 3 Power Plant. After receiving and transferring the plant, Vietnam Electricity Group will continue to exploit and operate it.

It is expected that the plant will contribute about 4.6 billion kWh to the national power system each year, contributing to ensuring energy security and stabilizing the power system, serving socio-economic development.

The Phu My 3 Thermal Power Plant Project with a capacity of 715 MW in Ba Ria-Vung Tau province is a combined cycle gas turbine power plant, using domestic gas resources and implemented by 3 foreign investors: Sembcorp Utilities Pte. Ltd., Kyuden International Corporation and Sojitz Corporation.

The project began commercial operation on March 1, 2004 and after the end of the 20-year period of safe and stable operation, at 00:00 on March 1, 2024, the Plant was successfully transferred to Vietnam Electricity Group for continued exploitation and operation.

EVN is about to receive two foreign-invested gas-fired power plants . Two foreign-invested BOT gas-fired power plants are about to be transferred to Vietnam after the 20-year contract expires. EVN is assigned to receive them.