Secretary of Thai Binh Party Committee Ngo Dong Hai set the deadline at a meeting last week with Japan’s Tokyo Gas Co., Ltd. and Vietnam’s Truong Thanh Vietnam Group, two of three partners in a joint venture named Thai Binh LNG Power JSC — the investor.

The province has also set a target to complete administrative procedures by the second quarter of 2025 for further development.

To meet these deadlines, the investor proposed the involvement of all relevant authorities to resolve issues relating to land, site clearance, materials, and investment procedures.

At present, the joint venture is working on a pre-feasibility report and paying compensation for impacted households. The investor is also preparing procedures to hand over land and complete a power purchase contract and environmental assessment report.

Hai said that the investors should make long-term plans to ensure gas supplies and expand the plant’s capacity if possible. Thai Binh will support Tokyo Gas in researching and developing offshore wind power projects, in line with the province’s target of becoming a zero-carbon green energy hub.

Thai Binh Party Committee gave an in-principle nod to the $2 billion LNG Thai Binh thermal power plant in Thai Thuy district in December 2023, tasking the local authorities with completing legal procedures for the project.

In the same month, the joint venture was handed an investment certificate for the project at the Vietnam-Japan Economic Forum held in Tokyo during Prime Minister Pham Minh Chinh's visit to Japan in December 2023.

The project is the biggest foreign-invested project in Thai Binh so far. It is estimated the project will provide approximately 10 billion kWh per year to the national grid, supplying electricity to the northern region and contributing to national energy security.