"Speed Up the Quynh Lap LNG Power Plant Project," Vietnam's Nghệ An Province Tells Consortium Including SK Innovation

【HANOI, Vietnam—Correspondent Kim Jun-seok】Authorities in Nghệ An Province have asked the SK Innovation–PV Power–Nghệ An Sugar (NASU) consortium and relevant agencies to expedite the construction of the Quynh Lap LNG thermal power plant. The project is a major large-scale power initiative with a designed generation capacity of 1,500 MW and a total investment of $2.2 billion.
According to local media on the 18th, Phung Thanh Vinh, vice chairman of the Nghệ An Provincial People's Committee, held a meeting on the 17th with representatives of the investment consortium and officials from relevant ministries, departments, and agencies. They focused on ways to accelerate the Quynh Lap LNG thermal power plant project and resolve issues arising during the land-acquisition process, including site clearance.
The SK Innovation–PV Power–Nghệ An Sugar (NASU) investment consortium said it had officially established Quynh Lap LNG Power, the project company, on the 14th. The independent entity will directly operate the Quynh Lap LNG power plant project. Its establishment created a basis for advancing the costs of site clearance.
Nghệ An Province emphasized that it aims to complete the formal contract signing this month.
The Finance Department also stated, "We are providing guidance on the relevant procedures so that the project company can make advance payments for site-clearance compensation to local authorities." The advance payments will later be deducted from the project's land costs in accordance with the 2024 Land Law.
Vinh praised the efforts of the investors, ministries, and agencies and asked the investment consortium to sign a site-clearance agreement with local authorities by the 25th.
Vinh also instructed the Industry and Trade Department to work with the Finance Department and the investment consortium to finalize a detailed schedule for the project. Key milestones include approval of the feasibility study report (FS), approval of the 1:500 detailed plan, completion of the environmental impact assessment, groundbreaking, and the construction progress schedule.
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