2 28 billion Ca Na power project clears feasibility hurdle

The Ca Na Port project, backed by the Trung Nam Group, has cleared the feasibility hurdle, according to the Khanh Hoa Department of Industry and Trade. The department considers the project to be in strict alignment with the Power Development Plan VIII and Resolution No.70-NQ/TW aimed at ensuring national energy security. Upon completion, the plant will play a pivotal role in supplying electricity to the middle section of Vietnam's power grid, serving the Southern Key Economic Region's load centers.

While the feasibility report meets the necessary criteria, the responsibility for a full assessment of the $2.29 billion investment, financial viability, and economic efficiency remains with the investor, the Trung Nam - Sideros River consortium. The consortium must secure the funds and ensure a consistent gas supply for the plant's 50-year operational period.

Before the project can proceed with construction and operation, it must undergo an environmental impact assessment, a legal requirement mandated by the Law on Environmental Protection. The consortium secured the project's development rights in January, with an investment plan of $2.29 billion and an approved electricity price of 13 cents per dollar/kWh.

The project occupies 265.7 hectares in Ca Na commune, featuring a 1,500 MW power plant and a technical corridor spanning 33.4 hectares. The remaining area serves as water surface for the port and storage system. The project's proximity to the planned Van Phong Bay fuel storage area offers a geographical advantage, enabling backup fuel supply via sea or pipeline.

The consortium also plans to install a regasification system capable of handling 1-1.2 million tonnes annually, a 220,000 square meter storage tank, a supply pipeline, an import port, and a 2,400 m long eastern breakwater. The Trung Nam - Sideros River consortium must conclude construction and commissioning before December 31, 2030, with a 50-year operational lifespan.