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Tan Tao seeks contractors for $7.7 bln power plant   2008-12-11 - TN, Bloomberg

Tan Tao Investment Industry Corp. Wednesday opened up the bidding for construction engineers for a US$7.7 billion power plant and seaport in the southern province of Kien Giang.



The Ho Chi Minh City-based industrial park builder and operator, also known as ITA Group, said the complex will be located in Kien Luong Town and comprise Kien Luong 1 and Kien Luong 2 power plants and the Nam Du deep seaport.

Construction of Kien Luong 1 plant will begin next year at an investment of $2.5 billion, said Tan Tao’s vice president Nguyen Tuan Minh. Its capacity will be between 1,200-2,000 megawatts with initial generation of 600 megawatts by late 2013.

In an interview with Bloomberg, Minh also said that the complex would supply a total 4,400- megawatts after its completion.

The plant will require about 3 million tons of coal imported from Indonesia, Australia and Russia in the first stage, according to Minh.

The UK's International Power Corp., Japan's Sojitz Corp., and Kyushu Electric Power Co. are Tan Tao Investment's strategic partners who will help secure loans and seek appropriate technology for the project, Minh said.

The plants, about 300 kilometers (186 miles) from Ho Chi Minh City, falls under a government program that guarantees up to 80 percent of the loans earmarked for investment, Minh said, adding that the project will be the nation's largest thermal power project by a private company.

ITA group is involved in infrastructure, industrial parks and power projects like the Tan Son Nhat Express Way, Nam Na 3 Hydro Power and Long An Water plants.

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