ITA Group opens biding for $2.5bil power, sea-port complex

The first stage of the Kien Luong Power and Port Complex is estimated to cost US$2.5 billion, according to Tan Tao chairwoman Dang Thi Hoang Yen.

The 556-hectare facility will be located in Kien Luong District, Kien Giang Province, some 300km from HCM City.

Of this, 256ha will be used for building a 5,200MW thermal power complex and the remaining 300ha for a large coal port and a smaller cargo port.

Work on phase 1, to include the 1,200MW Kien Luong Plant No 1, will begin late next year and be completed in four years.

The plant will require around 3 million tonnes of coal to be imported from Australia, Indonesia, and Russia.

The first phase will involve consultancies such as the local Power Engineering Consulting Co No 2, US-based Black & Veatch, and China’s FHDI Engineering company.

Its potential strategic partners include Japan’s Sojitz Corp and Kyushu Electric Power Co and the London-based International Power Plc.

ITA Group president Dang Thanh Tam said it would be the first major power project to be entrusted to a private company by the Government.

He said the coal-fired thermal plant was expected to generate power by 2013.

The port complex, comprising Nam Du and Kien Luong ports, would serve the power plant, enabling the delivery of import coal.

The group plans to import 10 million tonnes coal annually to run to power plant.

The electricity would to sold to ITA Group industrial zones and Electricity of Viet Nam (EVN). Thirty per cent of its initial capacity has been committed to the industrial zones, while the quantity to be sold to the EVN is still under negotiation.

ITA Group has been developing infrastructure and industrial parks for the last 12 years and has 20 subsidiaries.