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Doosan, Mitsubishi Win $1.5 Bln Deal to Build Power Plant in Vietnam

State-owned Electricity of Vietnam, or EVN, has awarded a $1.5 billion contract to a consortium of Doosan Corp. (000150.SE), Mitsubishi Corp. (8058.TO) and two Vietnamese firms to build a coal-fired power plant in southern Vietnam.

Construction of the 1,200-megawatt Vinh Tan 4 plant in Binh Thuan province will begin in the first quarter next year and is scheduled for completion by the end of 2017, EVN said in a statement late Monday.

The consortium will be responsible for designing, purchasing equipment and building the plant 250 kilometers north of Ho Chi Minh City, EVN said.

It said 85% of the cost of building the plant will be funded by loans from Korea Eximbank, Korea Trade Insurance Corp. and Japan Bank for International Cooperation. The remaining 15% will come from EVN.

The plant will use imported coal, it said, without elaborating.

Write to Vu Trong Khanh at This email address is being protected from spambots. You need JavaScript enabled to view it.