South Korea's SK wants to invest in a $2 billion LNG thermal power project in Thanh Hoa

(Dan Tri) - It is expected that by 2027, the Nghi Son LNG thermal power plant project will start in Thanh Hoa, with a total investment of about 2 billion USD.

On the afternoon of September 27, according to information from the Office of the People's Committee of Thanh Hoa province, Mr. Mai Xuan Liem, Vice Chairman of the People's Committee of the province, recently chaired a working session with SK Innovation Co., Ltd. (Korea) on promoting investment in the Nghi Son LNG thermal power plant project, according to the integration plan with the Quynh Lap - Nghi Son LNG gas thermal power plant cluster.

Previously, the Nghi Son LNG thermal power plant project was approved for investment in March 2024, on the list of important national power source projects, prioritized by the energy sector and required to be put into operation in the 2025-2030 period.

Overview of the working session (Photo: Minh Hang).

At the meeting, SK Innovation Co., Ltd. proposed to invest in a 1,500MW project in Nghi Son Economic Zone, using 33.9 hectares of land and 8.46 hectares of water surface. The project also includes a pipeline connecting to the Quynh Lap LNG port warehouse (Nghe An).

The total investment capital of the project is about 51,585 billion VND (equivalent to 2 billion USD), expected to start construction in January 2027 and be commercially operational in the fourth quarter of 2030. The enterprise estimates that the project will contribute about 79,575 billion VND to the state budget during its lifetime.

In addition to this project, the investor also expressed interest in developing an AI data center, a distributed energy model (DER), and a DPPA solution integrating renewable energy - LNG. At the same time, the enterprise is studying to invest in an additional 1,500MW power plant in Thanh Hoa in the future.

Representative of SK Innovation Co., Ltd. speaking at the meeting (Photo: Minh Hang).

A representative of SK Innovation Co., Ltd. emphasized the feasibility of developing the Quynh Lap - Nghi Son LNG project cluster in the direction of infrastructure integration, instead of implementing the Nghi Son LNG thermal power plant separately.

According to the enterprise, this plan will significantly increase the competitiveness of the project thanks to the shared use of LNG warehouses, wharves, and breakwaters with the Quynh Lap LNG Thermal Power Plant Project, thereby reducing investment costs by about 700 million USD.

In addition, in the technical design plan, the enterprise has also optimized the arrangement of equipment and LNG gas pipelines, shortening the gas transportation journey, thereby improving efficiency and ensuring operational safety.

With the new plan, SK Innovation Co., Ltd. said the project will be feasible in terms of commercial operation progress by 2030 according to the Power Plan VIII (adjusted). The project will contribute to supplementing flexible power sources for the national power system, ensuring stable supply for key industries in Thanh Hoa and the North Central region.

Mr. Mai Xuan Liem highly appreciated the investment proposal of the Korean investor. He emphasized that Thanh Hoa province completely agreed with the policy of promoting the project.

Quynh Lap LNG thermal power project area (Photo: Canh Toan).

After the working session, Thanh Hoa province will establish a specialized working group led by the Management Board of Nghi Son Economic Zone and industrial parks, to coordinate with investors and relevant agencies to remove obstacles and quickly deploy necessary tasks.

Regarding the technical and warehousing plans, Mr. Liem emphasized that the basic solutions have been agreed upon. Thanh Hoa province will closely coordinate with Nghe An province to implement synchronously, ensuring compliance with planning and legality.

He also requested that investors promptly complete detailed plans and provide all necessary documents and records so that the province can review and carry out project approval procedures as soon as possible.

Representatives of SK Innovation Co., Ltd. affirmed that they will closely coordinate with the Management Board of Nghi Son Economic Zone and industrial parks of Thanh Hoa province, along with relevant agencies of Nghe An province, to soon complete the roadmap and detailed progress milestones for the entire project.

Source: https://dantri.com.vn/kinh-doanh/sk-cua-han-quoc-muon-dau-tu-du-an-nhiet-dien-lng-2-ty-usd-o-thanh-hoa-20250927153122560.htm