JAKS eyes Viet power plant

JAKS has sought permission from the Vietnamese government to invest in the 1,200-megawatt plant in the northern province of Hai Duong, 50km east of Hanoi, according to a Reuters report yesterday that quoted the Vietnam Investment Review. The plant will use coal from Vietnam’s top coal producer, Vinacomin, the report said.

Vietnam is struggling to meet soaring energy demand at home and plans to slash coal exports this year by more than 32 per cent to about 22 million tonnes to save more for new power plants, officials from the Industry and Trade Ministry have said. On October 17, JAKS told Bursa Malaysia that it was exploring various investment and funding options, including joint-venture arrangements to undertake the project should it be awarded the investment licence.

Vietnam’s Industry and Trade Ministry, in a letter dated October 10, had asked JAKS to prepare the submission to various authorities for the proposed power plant.

The ministry said it expects the plant to start commercial operation in 2014 or 2015.