AMCO, pursuing construction of thermoelectric power plant in Vietnam
Hyundai Engineering 2009/05/30프린트
Hyundai Engineering 2009/05/30프린트
- Execution of MOU for construction of 1,200MW thermoelectric power plant in Trai Binh, Vietnam jointly with Korea Electric Power Corporation (KEPCO)
- Total project budget for the project ordered by the government operated petroleum corporation of Vietnam is approximately 1.5 Trillion KW.
AMCO, a subsidiary construction company under the umbrella of Hyundai Motor Group of Companies, is pursuing construction of thermoelectric power plant in Vietnam.
AMCO (Representative Director: Kim, Chang Hee. www.amco.co.kr) announced on the 29th that the company decided to construct 1,200MW thermoelectric power plant with capacity of 1,200MW in Trai Binh in the northern region of Vietnam ordered by the government operated petroleum corporation of Vietnam (PVN: Petro Vietnam) in jointly with Korea Electric Power Corporation (Representative Director: Mr. Kim, Ssang Soo).
This is a large capacity project with total budget of approximately 1.5 trillion KW. This projects is being pursued as a part of 『Power Supply Development Plan』 of the Vietnam Government with goal of construction of total of 41 thermoelectric power plants with total capacity of 22,600MW throughout Vietnam from 2007 to 2015.
For this purpose, AMCO and KEPCO entered into and executed Memorandum of Understanding (MOU) for joint development project including construction of thermoelectric power plant on the 29th at the Shilla Hotel in Seoul between the Vice-chairman, Nguyen Tien Dung, of PVN, President Cho, Wei Geon of AMCO and Managing Director Byeon, Joon Yean of KEPCO in the presence of the Prime Minister of Vietnam, the honorable Nguyen Tan Dung.
This signing ceremony was carried out as a part of 『Luncheon Meeting between 4 economic organizations with invitation of Prime Minister of Vietnam』 that the Korea Chamber of Commerce and Industry organized ahead of the special summit meeting of Korea and ASEAN to be held over June 1 ~ June 2 in Jeju Island.
Through this MOU, AMCO and KEPCO agreed on comprehensive contents for assertive pursuit of enticement of financial investors for, construction and operation of joint development projects including construction of thermoelectric power plants.
The Vietnam government is currently taking assertive steps to develop and continuously and stably supply power for balanced development for each district and appropriate for various regions throughout Vietnam through construction of thermoelectric power plants.
Accordingly, AMCO and KEPCO is firstly planning to determine the detailed schedule to pursue the project through specific working-level negotiation for construction of thermoelectric power plant in Trai Binh, Vietnam, and planning to pursue joint development project by assertively recruiting investment companies in both Korea and overseas countries as need arises.
Trai Binh in the seashore region of northern portion of Vietnam is located approximately 70km from Hai Phong City, and is the economic triangle that connects Hanoi with Hai Phong.
President of AMCO, Mr. Cho, Wei Geon, stated that “This project is the second development project, which includes construction of thermoelectric power plant, that our company is pursuing after the construction of large capacity comprehensive resort that includes 27-hole golf course on 1.93 million pyeong of land area in the vicinity of Hai Phong, Vietnam. It is anticipated that it will provide us with an opportunity to accelerate our entry in to plant construction market of Vietnam in the future.”
On the other hand, AMCO has accumulated performances in power plant within steel mill including industrial facilities for the Ilkwan Steel Mill Unit No. 1 and 2 as well as environmental areas including treatment of waste, polluted and sewerage water, distribution and supply of water and water treatment while pursuing construction for Hyundai Steel Mill at Dangjin, Korea.