Construction of the Thai Binh LNG Thermal Power plant, a US$2 billion project, is set to begin in September this year. A consortium of two Japanese companies, Kyuden International and Tokyo Gas together with Truong Thanh Group JSC will be leading the process. The project is currently under review with the relevant departments and authorities. A feasibility report, land revocation and land clearance need to be completed before anything else occurs. The project is expected to make more than US$142 million in annual tax revenue for the state budget in the construction phase alone.
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Once land clearance has been given, construction will begin on the transport infrastructure and the operation centre. The consortium of investors have stated that they are committed to completing the project in a timely manner. Moreover, it is currently finalising investment plans and mobilizing resources before the ground breaking in September. When the thermal plant is completed, it has been projected that it will make over US$158 million in annual tax revenue. This has warranted the support of provincial leaders who have shown commitment to supporting the project. There are reports that the land clearance for the project is expected to happen in May.
Project Overview
Location: Thai Binh, Vietnam
Project Cost: US$2 billion
Developers: Kyuden International, Tokyo Gas, Truong Thanh Group JSC
Construction start date: September 2025
Completion date: 2029
Project scope: 269.4 hectares
Thai Binh LNG Plant scope
The Thai Binh LNG Thermal Power plant will cover an area of 269.4 hectares of both land and water surface. The project has been scheduled to begin commercial operation on the first turbine in 2028. The second turbine will begin commercial operation in the following year.
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