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Hyundai E&C Completes Mong Duong 1 Thermal Power Plant Construction in Vietnam
Vietnamese Thermal Power Plant
Hyundai E&C Completes Mong Duong 1 Thermal Power Plant Construction in Vietnam
  • By Jung Min-hee
  • January 19, 2016, 01:30
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Hyundai Engineering and Construction (E&C) held the completion ceremony of Mong Duong 1 coal-fired thermal power plant in Cam Pha City of Quang Ninh Province in northern Vietnam on Jan. 16. It is the biggest single circulating fluidized bed combustion (CFBC) plant in Vietnam. 

The ceremony took place at the auditorium of the plant, participated in by 300 attendants, including Hoang Trung Hai, Deputy Prime Minister of Vietnam, Nguyen Van Doc, Secretary of Quang Ninh provincial Party Committee, Duong Quang Thanh, chairman of Electricity of Vietnam (EVN), Hyundai E&C President Jung Soo-hyun and Eric Sidgwick, the Asian Development Bank (ADB) Country Director in Vietnam.

After fierce competition with Chinese companies, Hyundai E&C signed a US$1.47 billion (1.7 trillion won) deal with EVN in Sept. 2011 to build the Mong Duong 1 thermal power plant, and began construction in Dec the same year. 

The company successfully completed the unit 1 in Sept. and the unit 2 on Dec. 2 last year. The Mong Duong 1 plant is a national project fully supported by the Vietnamese government to address chronic shortages of electricity in Vietnam. The Export-Import Bank of Korea financed 40 percent of the construction cost, while the ADB covered the remaining 60 percent.

Moreover, it is the first plant introduced CFBC by EVN. The Mong Duong 1 power plant will generate 6.5 billion kilowatt-hours (kWh) of electricity in the future, enough electricity to run nearly 5.1 million households in the northern region of Vietnam for a year, being a great help to power supply in the region.