Samsung plans to first combined cycle power plant in Vietnam

, Samsung plans to first combined cycle power plant in Vietnam

Samsung C&T Corp., the construction unit of Samsung Group, has announced it had obtained a plant deal worth 510 million USD from Vietnam.

In a statement on February 2, Samsung C&T said it received the order from PetroVietnam Power Corporation, to build the Southeast Asian country’s first combined cycle power plant, Vietnam News Agency reported.

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Samsung C&T will form a consortium with local builder Lilama Corp. to build gas and steam turbines, heat recovery steam generators, substations, and power transmission lines for the plant, it said.

The company has yet to provide the timeframe for the plant, according to the Vietnam News Agency.

The inflow of foreign investment into Vietnam hit over 2.1 billion as of January 20, up 4.2 percent year-on-year, marking good signals for the country’s investment attraction, Foreign Investment Agency (FIA) reported.

Following the recovery from the end of 2021 after the impact of the COVID-19 pandemic, many foreign-invested enterprises have stabilised and expanded their production and business activities. Thus, disbursement of foreign direct investment (FDI) also saw a positive increase of 6.8 percent to surpass 1.61 billion USD during the first month of this year, FIA said in its report.

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According to the report, up to 103 new foreign-invested projects were licensed with a total registered capital of nearly 388 million USD, up 119.1 percent year-on-year in terms of the number of projects but down 70.7 percent in value.

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