The view of Quynh Lap LNG thermal power plant. Photo: baodautu.vn

The schedule was made by Vice Chairman of Nghe An People’s Committee Phung Thanh Vinh at a meeting with local departments and the consortium of investors on September 17.

Previously, on September 14, the consortium of investors, comprising PV Power, Nghe An Sugar Company, and SK Innovation, established Quynh Lap LNG Power JSC to implement the project.

This independent legal entity will directly manage the mega power project with a total designed capacity of up to 1,500 MW, and a total investment of over $2.2 billion.

According to Nghe An People’s Committee, the establishment of this legal entity provides a solid foundation for the enterprise to advance funds for land clearance. The committee requires the consortium to complete the signing of the land clearance contract with Tan Mai People’s Committee before September 25.

The Department of Finance is also urgently finalising the draft project contract to report to the provincial people's committee, striving to complete the official signing in late September.

Regarding funding for land clearance, the Department of Finance guided the investor on the procedures to advance funds to pay compensation to the local authorities, which will then be deducted from the project's land fees according to the 2024 Land Law.

In addition, the Department of Industry and Trade was requested to coordinate with the Department of Finance and the investor to compromise and establish the project's progress milestones, which combine the progress of approving the Feasibility Study Report; the time for approving the 1/500 detailed planning; completing the environmental impact assessment; and the timeline for construction.

Located in Tan Mai ward, the plant has a capacity of 1,500 MW, including a 1,500 MW LNG-fired thermal power plant, an LNG storage and regasification system with a tank capacity of approximately 250,000 cubic metres, and a dedicated port within the Dong Hoi Port area – Nghe An Seaport.

The venture is slated to be put into operation and generate electricity in 2030, helping provide a stable and efficient power supply to the national grid, especially in the Northern and North Central regions. Once operational, the venture will meet the energy needs for industrial development, services, and logistics, while facilitating investment in Nghe An.