On Wednesday, the Van Phong 1 BOT Thermal Power Plant was officially launched in the central province of Khanh Hoa, adding an extra 8.5 billion kWh annually to the national electricity output, equivalent to 3% of the total.

Situated within the Van Phong Economic Zone, this project stands as the largest investment by Sumitomo Corporation of Japan in Khanh Hoa. Employing ultra-supercritical technology and equipped with modern machinery, the plant ensures high efficiency while adhering to rigorous environmental standards.

Boasting a hefty investment sum of nearly $2.58 billion, the Van Phong 1 BOT Thermal Power Plant comprises two turbines with a combined capacity of 1,432 MW. Operated under a Build-Operate-Transfer (BOT) contract inked with the Ministry of Industry and Trade, ownership of the coal-fired thermal power plant will revert to the Vietnamese Government after 25 years of operation.

This endeavor stands as a testament to the strengthened ties between Vietnam and Japan, marking a milestone in the elevation of their relationship to a comprehensive strategic partnership aimed at fostering peace and prosperity across Asia and beyond.