Posted on 05 Nov 2008
Malaysia's JAKS eyes $1.4 bln Vietnamese power plant
Malaysian water firm JAKS Resources plans to invest US$1.4 billion in a coal-fired power plant in northern Vietnam, the Vietnam Investment Review said Monday.
The company has sought permission from the Vietnamese government to invest in the 1,200-megawatt plant in the northern province of Hai Duong, 50 kilometers east of Hanoi, the report said, citing Nguyen Xuan Doan, chief of the province’s Planning and Investment Department's external relations division.
The plant would use coal from the country’s largest producer Vinacomin when it goes on stream in 2015, the report said.
The investment in the plant is four times the province’s remaining FDI put together this year, the report said.
Vietnam is struggling to meet its soaring energy demand and plans to slash coal exports this year by more than 32 percent to about 22 million tons to save more for new power plants, officials from the Industry and Trade Ministry have said.
