Promoting the progress of Phuoc Hoa Pumped Storage Hydropower Project

Vice Chairman of the Provincial People's Committee Trinh Minh Hoang chaired the meeting.

According to the report, the Phuoc Hoa Pumped Storage Hydropower Project was approved by the Provincial People's Committee in mid-2024, assigned to the consortium of Truong Thanh Investment, Construction and Development Joint Stock Company, Daewoo Engineering & Construction Co., Ltd. (Korea), and a number of domestic investors for implementation. The project has a capacity of 1,200 MW, an area of 87.5 hectares in Bac Ai Tay commune, a total capital of VND 22,865 billion, expected to start construction in the fourth quarter of 2025 and operate by the end of 2030. Up to now, the investor has completed a number of important procedures, such as: Agreeing on the direction of the connecting line; surveying the terrain and geology; preparing a feasibility study report... However, this is an unprecedented type of project, so the development of a financial plan is difficult, along with a number of other problems affecting the project's progress.

Investor representative at the meeting.

At the meeting, Truong Thanh Construction and Development Investment Joint Stock Company proposed that the Provincial People's Committee allow the investor to carry out the construction of office buildings, housing for experts, consultants and some warehouses on the agricultural land that the investor has transferred and is continuing to carry out the next steps in the feasibility study report phase. At the same time, approve the investor to organize the groundbreaking ceremony for the project's auxiliary items (Project Management Board office building, warehouse) on the agricultural land that the investor has transferred. The investor also proposed that the Provincial People's Committee, departments, branches and localities pay attention, create favorable conditions and support the investor; speed up the settlement of administrative procedures on land, investment, construction, fire prevention and fighting, environment... of the project according to the law so that the project can keep up with the schedule.

Concluding the meeting, comrade Trinh Minh Hoang said that the project's progress is slow; if the investor does not make efforts to implement it, it will be very difficult to generate electricity by 2030 as committed. The Vice Chairman of the Provincial People's Committee requested the investor to overcome difficulties, if they do not have enough capacity, they must form a joint venture to bring the project to the finish line on schedule. The Provincial People's Committee will create all favorable conditions to help the investor implement the project, however, the implementation time must be ensured according to the investment license, the province will not consider extending it.

D. LAM

Source: https://baokhanhhoa.vn/kinh-te/cong-nghiep-nang-luong/202512/thuc-day-tien-do-du-an-thuy-dien-tich-nang-phuoc-hoa-56515f4/