Authorities in Ha Tinh Province have, central Vietnam, approved investment policy and investors for the Vung Ang III LNG Power Plant, a major energy project with a total investment of more than VND51.43 trillion (approximately $2 billion).

Located in Hoanh Son Ward, the project will have a total installed capacity of 1,500 megawatts (MW) and is expected to become one of the key energy facilities in Vietnam’s North Central region, supporting national energy security and the implementation of the country’s Power Development Plan VIII.

The approved investor consortium comprises PetroVietnam Power Corporation (PV Power), Vietnam Machinery Installation Corporation (Lilama) and Thailand-based B.Grimm Power Public Company Limited.

The project will occupy approximately 51.7 hectares of land and nearly 16 hectares of sea surface area. The plant will consist of two LNG-fired generating units with a combined capacity of 1,500 MW.

With an operating term of 50 years from the date of land and water allocation, the project is scheduled to be developed in phases. The first 750-MW generating unit is expected to begin commercial operations in the first quarter of 2031, while the second is planned to enter operation in the second quarter of 2032.