Thai group pursues $8-billion power project in Ninh Thuan

Gulf Energy Development Public Company Limited has once again expressed interest in developing the gas-fired power complex in Ninh Thuan province. 

Representatives from the Thai company, which first met provincial authorities to talk about the project late last year, have come back to seek investment opportunities. 

The complex is located in Ca Na commune, Thuan Nam district and designed with four plants and a combined capacity of 6,000MW. Total development costs are estimated at $7.8 billion.

Pham Van Hau, vice chairman of Ninh Thuan Provincial People's Committee said the power project played a pivotal role in promoting socio-economic development for the province. 

The provincial authorities have tabled the development masterplan for the project to the Ministry of Industry and Trade for appraisal.

Hau said after the plan was approved by competent authorities, the province would select investors for the project, adding that the province considered Gulf Energy Development as a potential investor.

The project has attracted other investors, including France's Total, which wanted to partner with Siemens, Vovatek (Russia) and Vietnam A&A Technology and Investment Co., Ltd. to deploy the project with a total capacity of 4,500 MW.

Gulf Energy Development is developing a solar power project in Tay Ninh province with capacity of 48MW and total investment of $66 million, which is expected to come into operation mid this year.

Gulf Energy Development is the third largest power company in Thailand. After a $733-million IPO last year, Gulf Energy Development said that it was carrying out researches on projects in neighbouring countries such as Myanmar, Laos and Vietnam.