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One of the most important energy projects in the North has just continued to miss appointments with investors. The Nghi Son LNG Thermal Power Plant project in Thanh Hoa, with a total investment capital of about 57,524 billion VND, equivalent to nearly 2.2 billion USD or about 58,000 billion VND, had to cancel the bid for the third consecutive time because no bids were submitted. This is information that is attracting great attention from domestic and foreign energy investors. (VnEconomy)
It is worth mentioning that this is not the end. In the energy world, the projects that once faced the most difficulties sometimes become "strategic gold mines" for investors who know how to look ahead.
⚡ HUGE SCALE OF THE PROJECT
| Category | Scale |
|--------|-------:|
| Total investment capital | 57,524 billion VND |
| Convert USD | about 2.2 billion USD |
| Factory capacity | 1,500 MW |
| LNG warehouse | 230,000 m³ |
| Regasification capacity | 1.2 million tons/year |
| Target operating time | Before 2030 |
| Location | Nghi Son Economic Zone, Thanh Hoa |
Why is the project so attractive?
The 1,500 MW LNG power plant can produce about 9 to 10 billion kWh of electricity per year, enough to supply electricity to millions of households and key industrial zones in the North. Nghi Son also owns a leading industrial ecosystem with Nghi Son Refinery and Petrochemical LLC, deep-water port, logistics infrastructure and industrial development land fund.
WHY THE THREE INVOICES FAILED
| Cause | Impact |
|----------|---------|
| Scale of 1,500 MW is not large enough | Difficult to optimize investment efficiency |
| LNG prices fluctuate strongly | Input cost risk |
| The electricity purchase contract mechanism still has many concerns Cautious investor |
| Request to build a separate port | Rising costs |
| Very large investment rate | Difficult to raise capital |
Corporations used to care
Names such as JERA Co., Inc., Gulf Energy Development, SK Innovation, POSCO International and PV Power have all studied opportunities to participate in the project. (VnEconomy)
GOLDEN OPPORTUNITY AT NGHI SON
Not having investors participating at the present time does not mean the project is less attractive. On the contrary, this is the time when localities and management agencies can adjust the mechanism in a more flexible direction, opening up opportunities for businesses with a long-term vision.
Nghi Son has all the conditions to become a strategic LNG and gas power center of the North
- International deep-water port
- Large-scale industrial park
- Electricity demand increased sharply
- Available oil and gas infrastructure
- Convenient location with connection to the Northern Delta
COMPARISON WITH OTHER LNG PROJECTS
| Project | Total investment capital | Status |
|-----|----------------:|-----------|
| LNG Nghi Son | 57,524 billion VND | 3rd bid cancellation |
| LNG Quynh Lap | more than 59,000 billion VND | In progress |
| LNG Ca Na | large scale | There has been progress in choosing investors |
| LNG Quang Trach II | EPC signed | Under development ktwo |
FUTURE PROSPECTS
If the investment mechanism is improved, allowing infrastructure sharing with neighboring projects and increasing financial attractiveness, LNG Nghi Son can completely become a symbolic project of Vietnam's energy industry in the period 2026 to 2030.
️ Nghi Son is not just a gas power project. This is an opportunity to form a new energy, logistics and heavy industry center in the North.
CALLING FOR OPPORTUNITIES AT NGHI SON
Investors, EPC contractors, banks, investment funds, logistics businesses and supporting industries should closely monitor the developments of this project. When the bottlenecks are removed, Nghi Son can become a strategic destination worth tens of billions of dollars to the entire region.
⛽ Whoever seizes the opportunity at Nghi Son today can become a leader in Vietnam's next energy growth cycle
