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Chairman of Bac Lieu Provincial People's Committee Pham Van Thieu |
According to Chairman of Bac Lieu Provincial People's Committee Pham Van Thieu, the Bac Lieu LNG Power Plant Project has still faced ten problems, including major issues such as negotiation toward the Power Purchase Agreement (PPA), the requirement from investors to the Government about credit guarantee to mobilize capital.
Bac Lieu Province leader Pham Van Thieu said that the issues mentioned above had not been solved for over three to four passing years so the project could not be implemented as expected.
The Delta Offshore Energy Company is the investor of the Bac Lieu liquefied natural gas-fired power plant project with a total investment of around US$4 billion and a capacity of 3,200 MW.
This is the largest FDI project in the Mekong Delta which had been granted an investment certificate in January 2020.
According to the plan, the project is expected to start on work in the second quarter of 2022. Accordingly, the project’s first phase will be completed in 2024 with its capacity of 800MW and the second phase shall be tentatively finished by the end of 2027 to bring a capacity of some 3,200MW. However, the project could not be started due to unsolved obstacles.
