The land area planned for the 1,500 MW Ca Na LNG-to-power project

According to information published by the Department of Industry and Trade, the consortium submitted its bid with an electricity selling price of around VND3,294 per kWh ($0.13).

As for the bid security, private lender VPBank’s transaction office No.2 issued a guarantee worth nearly VND574 billion ($24.96 million), valid for 180 days from the bid closing date.

The deadline for submitting dossiers was previously extended from June 30 to July 19. Investor selection is scheduled to run from the first to the fourth quarter of 2025, followed by an investment preparation phase from Q1 to Q4 of 2026. If the timeline stays on track, a final decision could be issued by the end of next year.

In April, the former Ninh Thuan People’s Committee granted in-principle approval for the project and launched the investor selection process through bidding. Since then, Ninh Thuan and Khanh Hoa have been merged into the newly established Khanh Hoa province.

The LNG-to-power plant is designed to use combined-cycle gas turbine technology with a capacity of 1,500 MW, supported by LNG storage and regasification infrastructure, featuring one 220,000-cubic-metre storage tank.

The project also includes the construction of an LNG import terminal, a 2,400-metre-long eastern breakwater, and supporting infrastructure for terminal operations.

It covers about 28.06 hectares of land and 111.7 hectares of water surface in Ca Na commune, Khanh Hoa.

According to the initial plan, construction was expected to kick off in the third quarter; however, so far, the province had only completed the bidding procedures to look for investors.

It was added to the Power Development Plan VIII in April. The undertaking includes a 1,500MW combined cycle gas turbine LNG power plant, a port to receive LNG with an annual capacity of 4.8 million tonnes, as well as a warehouse with a capacity of 4.8 million tonnes a year. Once completed, the power centre will supply electricity to southern cities and provinces.