SK Group's headquarters in Jongno District, Seoul / Korea Times file
SK Innovation Co., Korea's leading refiner, said Thursday a consortium it formed with two Vietnamese companies has won a 3.3 trillion-won ($2.3 billion) power plant and liquefied natural gas (LNG) terminal project in Vietnam.
The consortium — comprising SK Innovation, Vietnamese power producer PV Power and sugar manufacturer NASU — won the project from the Nghe An provincial government in north-central Vietnam, the company said in a press release.
Under the deal, the consortium will build a dedicated LNG port, an LNG terminal and a 1.5-gigawatt combined-cycle gas-fired power plant in Nghe An by 2030, with construction set to begin next year, it said.
SK Innovation said it is considering shipping LNG to the Vietnamese terminal and operating it as a hub to supply fuel to power plants in neighboring areas.
"Through this project, the company aims to become a major LNG player with processing capacity of 10 million tons per year by 2030, up from the current 6 million tons," a company spokesperson said.
Source: Korea Times News
