Vingroup breaks ground on Vietnam's largest LNG power plant

Prime Minister Pham Minh Chinh attended the groundbreaking ceremony.

The project is jointly developed by Vingroup and VinEnergo Energy JSC, an arm of Vingroup, on a site covering nearly 100 hectares.

The plant is expected to begin operations by the end of 2030, annually supplying about 9.6 billion kWh in phase 1 and 19.2 billion kWh in phase 2.

The plant will have a total design capacity of 4,800 MW, with 1,600 MW in phase 1 and 3,200 MW in phase 2.

According to Vietnam’s power development plan VIII, it is expected to become one of the world’s leading LNG-fired power plants.

On Friday, Vingroup also broke ground on the first phase of the Tan Trao industrial park infrastructure development project. 

The industrial park is where the Hai Phong LNG Power Plant project is developed.

The project is led by Vinhomes Hai Phong Industrial Park Investment JSC and spans nearly 227 hectares.

It is scheduled for completion within five years, until the end of the second quarter of 2030, with an initial investment of over VND4 trillion ($151.5 million).

The industrial park is set to become a major hub for hi-tech and multi-sector industries, featuring advanced infrastructure to attract investment in electricity, electronics, telecommunications, new materials, clean energy, and renewable energy.

Nguyen Viet Quang, vice-chairman and CEO of Vingroup, stated that these two projects represent an integrated development model that Vingroup hopes to replicate, contributing to the country's industrialization and modernization goals.