American Electric Supply Inc has begun construction of the Mong Duong 2 Thermal Power Plant in the northern Quang Ninh Province, on September 16.
The affiliate sponsors of the project are Posco Power Corporation of the Republic of Korea and China Investment Corporation from China. 12 commercial banks will provide guarantees and debt facilities for the US$1.9 billion thermal power plant, by more than $1.46 billion.
Earlier, a 1,200 MW Thermal Power Plant was constructed in the Phuc Thanh, Quang Trung and Le Ninh communes of district Kinh Mon in the northern province of Hai Duong.
The Malaysian Jaks Resources Berhad investment developer sponsored the $2.258 billion plant under a build-operate-transfer (BOT) contract, offering to supply 7.8 billion kWh electricity per year.