PetroVietnam awards $940 million contract to Samsung and Lilama for LNG power plants

Hanoi, March 16 - Neftegaz.RU. PetroVietnam Power, a subsidiary of state-owned PetroVietnam, has awarded a $940 million contract to a consortium of South Korea’s Samsung C&T and Vietnam’s Lilama to build Vietnam’s 1^st LNG-fueled power plants.

In February, Samsung C&T, the construction unit of Samsung Group, also informed it has received a $510 million plant contract from Vietnam.
Petro Vietnam Power ordered it to build the country’s 1^st combined-cycle power plant.

Samsung C&T then said it will form a consortium with local builder Lilama Corp.
The consortium will build gas and steam turbines, heat recovery steam generators, substations, and power transmission lines for the plant.

Now, the Korean-Vietnamese consortium won the EPC contract.
Under this, it will build the Nhon Trach 3 and Nhon Trach 4 plants.
The plants in Dong Nai province will hold a combined capacity of 1500 megawatts.

The contract value is more than $940 million.
The entire project will amount to $1.4 billion.

Furthermore, this is the 1^st LNG-fueled thermal power project in Vietnam.
Therefore, it is significantly contributing to the implementation of the country-s net-zero by 2050 strategy.

Nhon Trach 3 and 4 project will go into operation in 2024-2025, annually stably supplying the national electricity grid with about 9 billion kWh.
The plants will use GE gas turbines.

The project contributes to promoting clean energy transition in Vietnam.
In addition, it is to open a new chapter in the formation and development of a chain of LNG projects in Vietnam.