The PetroVietnam Power Corporation (PV Power) has approved an investment plan to build Nhon Trach 3 and 4 thermal power plants with combined capacity of between 1,300-1,760 MW.

The plants will be constructed in the southern province of Dong Nai with an estimated investment of over VND32.48 trillion (US$1.39 billion).

In February 2020, PV Power signed a letter of authorisation with its foreign partners – Citibank and Ingbank – to arrange capital for the project.

The company also inked a contract with the PetroVietnam Gas Joint Stock Corporation (PV Gas) to provide and sold liquefied natural gas (LNG) for the project in mid-2019.

The construction of the plants is scheduled to commence in the second quarter of 2021.