A JV of Mitsubish, Doosan, Power Engineering Consulting Joint Stock Company 2, and Pacific Corporation has entered into a contract to develop the 1,200 MW coal-based Vin Tan 4 power plant in southern Vietnam. The project is estimated to cost $1.4 billion, of which 15 per cent will be contributed by Electricity of Vietnam (EVN) and the remainder by the Export-Import Bank of Korea, the Korea Trade Insurance Corporation, and the Japan Bank for International Cooperation. Located in Binh Thuan province, the plant will have two 600 MW units. Construction work is expected to begin in the first quarter of 2014; the plant should be fully functional by 2018.
