U.S. AES Corp, the biggest contributor to the $1.95-billion Mong Duong 2 coal-fired power project in Vietnam, has paid $32.4 million to the Vietnamese Ministry of Industry and Trade as a collateral to ensure the implementation of the facility. Earlier on Sept 16, AES who holding a 51% stake in the project along with two other investors Posco Power (with 30%) and China Investment Corp (with 19%) kicked off construction of the two-turbine plant in the Cam Pha Township. The plant with capacity of 1,240 MW will be developed under the form of build-operate-transfer (BOT). It will use dust coal coded 6a sourced from provincial mines to generate 8.1 billion kWh of power a year once fully operational in 2015. The Vietnam’s northern coal hub province of Quang Ninh-based facility will be transferred to the Vietnamese government after 25 years of operation. AES has invested in over 121 power plants, with combined capacity of 44,000 MW and total output of 73,000 GWh, in 30 countries across five continents, serving over 100 million people worldwide. (dvt.vn Oct 6)
