Samsung C&T and Lilamasecure USD940 million contract to build an LNG power plant in Vietnam

Samsung C&T and Lilama have secured a USD940 million engineering, procurement and construction (EPC) contract to construct a liquefied natural gas (LNG) power facility in Vietnam in an effort to transition away from coal-fired energy.

The companies will build two plants in Dong Nai, with a combined capacity of 1,500 MW. General Electric (GE) will supply the turbines for both the power plants. Commercial operations are expected to commence between 2024 and 2025.The companies have also signed an agreement with PetroVietnam Power to construct another LNG terminal in ThiVai which will supply fuel to the new Dong Nai plants.Currently, majority of Vietnam’s electricity is generated from coal-fired power plants. However, the government is aiming to shift to LNG to reduce carbon emission and has plans to build more than 20 LNG power plants in the country.