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Approving the policy to invest in 2 power plants in Chain of Blue Whale Projects

Approving the policy to invest in 2 power plants in Chain of Blue Whale Projects - 

The Prime Minister has approved the policy to invest in Dung Quat 1 and Dung Quat 3 Gas Turbine Combined Cycle (GTCC) Plants in the chain of Blue Whale Projects.

The objective of investing in these two power plants with a capacity of about 750 MW each is to provide the central and national power systems with a stable source of electricity and synchronize development with the chain of Blue Whale projects.

The Dung Quat 1 GTCC with an estimate investment level of 18,663,679 billion VND is expected to be started for construction by January 2021 and put into commercial by December 2023, and Dung Quat 3 GTCC with a preliminary investment of 17,538,760 billion VND will be started for construction by January 2022 and commercial operated by December 2024.

The total investment capital for the two GTCC includes 20% from the Electricity of Vietnam (EVN) and 80% from EVN commercial loans.

The Prime Minister assigned the relevant Ministries and Agencies to carry out the following tasks:

The Ministry of Industry and Trade (MOIT) to direct upstream investors for clarifying the composition and parameters of the gas and ensuring the progress and efficiency of investment in the whole chain of Blue Whale Gas Projects. At the same time, to inspect, supervise and direct EVN for selecting the GTCC configuration to ensure the capacity and efficiency of investment in technology using gas with low heat value and high inert gas content from Blue Whale field. .

The Ministry of Natural Resources and Environment to support and guide the Quang Ngai Provincial People's Committee (PPC) in assigning, leasing land, and permitting the change of land use purpose to implement 2 projects in conformity with the land use planning and plan approved by the competent authority in accordance with the land law; to support and guide EVN in completing the documents and implementing procedures for environmental impact assessment of the two projects in accordance with the law on environmental protection; to appraise and approve the environmental impact assessment reports for satisfying the approval progress for project investment.

The State Capital Management Committee at the Enterprise (SCMCE) to direct and guide EVN in implementing the next steps of investment preparation and construction investment of the two projects strictly in accordance with the current regulations for ensuring the target, progress, investment efficiency and safety in the course of construction, operation of the projects.

The SCMCE also to inspect, supervise and clarify capital mobilization of EVN according to the project implementation schedule, direct EVN to develop a financial plan to implement the projects with ensuring investment efficiency, efficiency of using, preserving and developing state capital in accordance with the laws.

The Quang Ngai PPC to be responsible for appraising the contents of project documents; to check the financial ability of the investor to ensure him eligible for getting, leasing land and changing land use purpose to carry out the projects in accordance with the schedule progress and regulations of the law on investment and land.

EVN to be responsible for the information and data in the project documents, the efficiency of project investment, the efficiency of using, preserving and developing the state capital; and to organize implementing and managing the projects in accordance with the laws.

PV.

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