The consortium, which consists of Power Machines, BTG Holding and PetroVietnam Technical Services Corporation (PTSC), signed an engineering, procurement and construction (EPC) contract with PetroVietnam. About 70 per cent of the capital for the EPC contract will be funded through loans, while the remaining 30 per cent will be funded by the project’s investor, PetroVietnam. The foreign contractors in the consortium, Power Machines and BTG Holding, will be responsible for arranging capital and ensuring that the project is completed and pilot operations begin. PTSC, along with other domestic contractors, will be responsible for the construction and installation of machinery of the project. Speaking at the signing ceremony, Do Van Hau, PetroVietnam’s general director, said the group has been investing heavily in electricity generation as directed by the government. Hau said PetroVietnam aims to contribute to 16 per cent of the country’s total power output and become the second-largest generator of electricity in Viet Nam. The VND29.5 trillion (US$1.39 billion) project, which has a capacity of 1,200MW, will generate 7.8 billion kWh annually. The project is one of five thermal power plants that will be planned and executed by the group. It is expected to meet the demand for electricity in the Delta region between 2015 and 2020. Deputy Prime Minister Hoang Trung Hai said the region is forecast to face a deficit in electricity supply by 2017 because of increasing demand as a result of economic growth. It is the main reason why the project has become a top priority. He urged PetroVietnam and the consortium to accelerate the project’s execution to ensure the adequate supply of power to the region. The Long Phu 1 coal-fired power plant is one of three plants at the Long Phu Power Plant Centre, which includes Long Phu 1 (2x600MW), Long Phu 2 (2x600MW) and Long Phu 3 (2x1000MW), as well as other plants. Covering an area of 420.5ha, the centre is located in southern Soc Trang province’s Long Phu district. The Long Phu 1 power plant is designed to have two units, which will use a supercritical technology pulverised coal boiler, along with other systems for coal handling, limestone handling, ash handling and a water treatment system. EVN inks agreement Electricity Viet Nam (EVN) and the Marubeni Corporation of Japan signed a contract on Thursday to build the main thermal power plant of the Thai Binh Power Station in the northern province of the same name. The contracts including engineering, procurement and construction works. At the signing ceremony in Ha Noi, EVN General Director Pham Le Thanh said the project would require an investment of VND26.5 trillion (US$1.3 billion). About 85 per cent of the funds will be provided by the Japan International Cooperation Agency, while the balance amount will be provided by EVN. The construction of the plant is scheduled to start in the first quarter of 2014. The first turbine is expected to become operational in the last quarter of 2017, while the second turbine is expected to start operating by the second quarter of 2018. Together, they will generate nearly 3.3 billion kWh every year. The two-turbine plant is part of the two-plant Thai Binh Power Centre in Thai Thuy District, Thai Binh province. On December 23, a contract was signed to build Vinh Tan’s thermal power plant No. 4 in the central province of Binh Thuan. The fourth Vinh Tan plant and Thai Binh plants are among the power projects expected to become operational in 2017-2018.