THE SOCIALIST REPUBLIC OF VIETNAM
Independence - Freedom - Happiness
Hanoi, October 25, 2019
Approving investment policies
of Dung Quat III Mixed Gas Turbine Power Plant Project
THE PRIME MINISTER
Pursuant to the Law on Organization of the Government dated June 19, 2015;
Pursuant to the Law on Investment dated November 26, 2014;
Pursuant to the Law on Construction dated June 18, 2014;
Pursuant to the Government's Decree No. 118/2015/ND-CP dated November 12, 2015 detailing and guiding the implementation of a number of articles of the Law on Investment;
Pursuant to the Government's Decree No. 59/2015/ND-CP dated June 18, 2015 on management of construction investment projects and the Government's Decree No. 42/20 17/ND-CP dated April 05, 2017 amending and supplementing a number of articles of the Government's Decree No. 59/2015/ND-CP dated June 18, 2015;
Pursuant to the Government's Decree No. 32/2015/ND-CP dated March 25, 2015 on management of construction investment costs;
Pursuant to the Prime Minister's Decision No. 428/QD-TTg dated March 18, 2016 on approving the adjusted master plan on national electricity development in the 2011-2020 period, with considerations up to 2030;
Pursuant to the Prime Minister's Document No. 51/TTg-CN dated July 12, 2017 on overall progress of Blue Whale Gas Projects;
At the proposal of the Vietnam Electricity and based on results of investment evaluation over 02 Mixed Gas Turbine Power Plant Projects, namely Dung Quat I
and Dung Quat III, in the Document No. 4955/BC-BKHDT-GSTDDT dated July 17, 2019 of the Ministry of Planning and Investment.
Article 1. Approving investment policies of Dung Quat III Mixed Gas Turbine Power Plant Project (Project) with the main contents as follows:
1. Investor: Vietnam Electricity (EVN).
2. Project’s name: Dung Quat III Mixed Gas Turbine Power Plant Project.
3. Objectives of construction investment: To supply stable power sources for the electricity system of Central Region and the national electricity system, thus contributing to ensuring energy security and safety of electricity supply for the systems and promoting the development in line with the Blue Whale Gas Projects.
4. Scale of construction investment: Constructing a mixed gas turbine (MGT) power plant with a capacity of about 750MW.
5. Location: In Dung Quat Electricity Center located in Binh Thanh commune, Binh So district of Quang Ngai province;
6. Total investment (initial): VND 17,538.76 billion.
- Owner's equity of EVN: 20% of the total Project’s investment capital.
- EVN’s commercial loans: 80% of the total Project’s investment capital.
8. Implementation schedule:
The project shall be implemented synchronously with gas supply progress of the upstream project within the Blue Whale Gas Projects. The Project is expected to start in January 2022 and commercially operate in December 2024.
9. Investment incentives and support shall comply with current law provisions.
Article 2. Organization of implementation
1. Ministry of Industry and Trade shall:
a) Instruct the investors to carry out the upstream project clarifying the
composition and parameters of the gases in order to ensure the progress and efficiency of investment of the whole Blue Whale Gas Projects.
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