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The steam drum installation is an important milestone in determining the installation schedule of the boiler and subsequently the overall project schedule. On August 17, 2012 the company installed the Unit 1 Steam Drum.
The Mong Duong 2 power plant, capitalised at $1.9 billion, started construction in August 2011 and has achieved an overall progress to date of approximately 66 per cent, according to the company.
There are approximately 225 experts and 4,000 local Vietnamese people currently working at the site.
“We are extremely proud to witness the commencement of lifting the Unit 2 Steam Drum. We would like to express many thanks to all the dedicated and skillful workers for their dedication and efforts to achieve this significant milestone today. With safety as our first priority we are confident that we will meet all expectations for the project,” said AES country manager and managing director David Stone.
The Mong Duong 2 power plant is forecasted to enter into commercial operation for both units during the second half of 2015 and will generate 7.6 billion kilowatt hours of electricity a year. After 25 years of operation, the plant will be transferred to the Vietnamese government per the build-operate-transfer (BOT) contract.
AES-VCM Mong Duong Power Company Limited was formed by three shareholders from subsidiaries of the AES Corporation from the US (51 per cent), Posco Energy Corporation from Korea (30 per cent) and China Investment Corporation from China (19 per cent). The project’s EPC contractors include Doosan Heavy Industries Vietnam Co. Ltd. and its subsidiaries.
Mong Duong 2 is one of four underway BOT power project invested by foreign investors in Vietnam to date. Previously, a joint venture between Japanese Sumitomo Group and TEPCO Company and French EDF Energy gained licence for investing into Phu My 2.2 power plant and a consortium of Kyushu Electric and Sojitz Corporation, BP and SembCorp Utilities invested Phu My 3 power plant, both in southern Ba Ria Vung Tau province.
The other is Hai Duong thermal power plant in northern Hai Duong province, developed by Malaysia’s Jaks Resources Bhd with the total investment capital of $2.25 billion.
Vietnam’s power sector have significantly contributed to the country’s economic development and improvements of people’s living quality. However, there are still many problems such as delayed construction schedules of many power plants and power network projects nationwide in comparison to those specified in the national power development plans.
According to the national power development plan during 2011- 2020 with the outlook to 2030, approved by Prime Minister last year, electricity production and import will be about 330 - 362 billion kilowatt-hours in 2020 and about 695 - 834 billion kilowatt-hours in 2030.