Samsung C&T Secures 600 Billion KRW Contract for Combined Cycle Power Plant in Vietnam

Perspective view of Vietnam Unit 3/4 Combined Cycle Power Plant Project (Photo by Samsung C&T)

[Asia Economy Reporter Ryu Tae-min] Samsung C&T has secured a combined cycle power plant project worth 600 billion KRW in Vietnam.

Samsung C&T's construction division announced on the 2nd that it won the contract for the 'Nhon Trach' Units 3 and 4 combined cycle power plant project, commissioned by Petro Vietnam Power, a subsidiary of the Vietnam National Oil and Gas Group.

This project is the first high-efficiency gas combined cycle power project commissioned by the Vietnamese government. It involves constructing a 1600MW high-efficiency gas combined cycle power plant within the Vung Khe Industrial Complex, located 23 km southeast of Ho Chi Minh City.

Samsung C&T will form a consortium with Vietnamese construction company Lilama to build two gas turbines, two steam turbines, two heat recovery boilers, as well as substations and transmission lines. The total contract amount is 835 million USD (approximately 1 trillion KRW). Of this, Samsung C&T's portion is 510 million USD (610 billion KRW), leading the construction.

Samsung C&T has previously successfully carried out Vietnam's first LNG terminal project, the Thi Vai LNG Terminal. The Thi Vai LNG Terminal is being constructed about 70 km away from the Nhon Trach power plant secured in this contract. Upon completion, it will supply gas necessary for power generation.

Earlier, the Vietnamese government announced the 8th National Power Development Plan last year, stating plans to invest over 100 billion USD in expanding the power grid by 2030.

Samsung C&T stated, "Vietnam is currently undergoing an energy transition focused on combined cycle power plants in line with its eco-friendly national power development plan. Based on this contract, we plan to further expand our participation in combined power generation and LNG terminal-linked projects within Vietnam."