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Progress of the Mong Duong 2 BOT Power Project as of September 2013
The council, which includes more than a dozen business leaders, various administration officials and lawmakers, advises President Obama on ways to boost exports, the White House said Wednesday.
The Mong Duong 2 power plant, capitalised at $1.9 billion, started construction in August 2011. It 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 US’ AES Corporation (51 per cent), Korea’s Posco Energy Corporation from Korea (30 per cent) and China Investment Corporation (19 per cent). The project’s EPC contractors include Doosan Heavy Industries Vietnam Co. Ltd. and its subsidiaries.