On 28/1, the Khanh Hoa Provincial People's Committee approved the selection of investors for the Ca Na LNG power project. The winning bidder is the Trung Nam - Sideros River consortium. The project encompasses a 1,500 MW LNG thermal power plant, an LNG terminal port with an annual capacity of 1-1,2 million tons, and other auxiliary facilities.

The project is estimated to utilize approximately 265,7 hectares of land, with a total implementation cost of 57.385 trillion VND. Due to the significant investment capital, the Khanh Hoa Provincial People's Committee required the Trung Nam - Sideros River consortium to commit sufficient resources for project execution.

The proposed electricity price for the Ca Na LNG power project is over 3,294 VND per kWh. This price is nearly 50% higher than the current average retail electricity price of 2,204 VND. The project is anticipated to be completed and operational before 2031.

Perspective view of the Ca Na urban - industrial - port area. Photo: Trung Nam Group

For this project, Power China participates in the operation and maintenance (O&M) phase. Khanh Hoa province requested the investor to provide more information about this entity's involvement in similar projects.

Trung Nam Group is a multi-industry enterprise with operations in infrastructure, energy, industrial real estate, and urban real estate. Energy is a core segment for the group, which owns several hydropower plants and renewable energy projects. Trung Nam is currently restructuring its finances and preparing to invest in and deploy many large projects during the 2026-2030 phase.

Trung Nam invested in the Trung Nam solar power plant in Ninh Thuan, which has a capacity of 450 MW and became operational in October 2020. The group is currently researching and surveying nearly 30 renewable energy projects, with an estimated capital of approximately 165 trillion VND (over 6 billion USD).

According to the Revised Power Development Plan VIII until 2030, new gas power sources must be invested to a maximum of nearly 37,500 MW, of which 60% will be liquefied natural gas (LNG), totaling 22,524 MW. This represents an increase of approximately 7,000 MW compared to the plan before its revision. The government views imported LNG thermal power projects as crucial baseload power sources, helping to ensure a stable electricity supply, supporting renewable energy development, and achieving socio-economic growth targets.

Phuong Dung