SK Innovation-Vietnam project
SK Innovation breaks ground for 3.3 tln-won LNG project in Vietnam
SEOUL, May 19 (Yonhap) -- SK Innovation Co., South Korea's leading refiner, said Tuesday that it has begun infrastructure construction for a 3.3 trillion-won (US$2.3 billion) power plant and liquefied natural gas (LNG) terminal project in Vietnam.
A groundbreaking ceremony was held in Nghe An Province, located about 220 kilometers south of Hanoi, for the joint consortium project with two Vietnamese companies, the company said in a release.
The consortium with Vietnamese power producer PV Power and sugar manufacturer NASU secured the project from the Nghe An provincial government in north-central Vietnam in February.
Under the agreement, the consortium will build a dedicated LNG port, an LNG terminal and a 1.5-gigawatt combined-cycle gas-fired power plant in Nghe An, with commercial operations targeted to begin by December 2030.
Choo Hyeong-wook, CEO of SK Innovation, speaks during a groundbreaking ceremony for technology infrastructure for a power plant and liquefied natural gas (LNG) terminal project in Vietnam, in this photo provided by SK Innovation. (PHOTO NOT FOR SALE) (Yonhap)
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