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Citibank and Ingbank to allocate funds for LNG-fired power plants

Xuan Thinh Wednesday | 02/19/2020 14:15

Leaders of PV Power, Citibank, Ingbank seen at the signing ceremony. Photo courtesy of PV Power

A consortium of Citibank and Ingbank will arrange funds for the construction of PetroVietnam Power Corporation’s gas-fired power plants Nhon Trach 3 and 4 in the southern province of Dong Nai.

With the undisclosed amount of money, the PV Power’s thermal power plants will be equipped with the mixed-flow gas turbine technology. They will be the first in Vietnam using imported liquefied natural gas, company said in a posting on its website.


The power plants which are being built at Ong Ke Industrial Park, Dong Nai’s Nhon Trach district have a combined capacity of 1,500 megawatts and. It is expected the power projects could help Vietnam to tackle power shortage in the southern provinces.

The Vietnam Oil & Gas Group’s Nhon Trach 2 power plant began commercial operation in 2011 with the capacity of 750 MW while the Nhon Trach 1 plant, which began operation in 2008, generates 2.5 billion kWh anually.

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