Mitsubishi Corporation Constructs Coal Fired Power Plant in Vietnam
Tokyo, Dec 24, 2013 - (JCN Newswire) - Mitsubishi Corporation (MC), together
with Doosan Heavy Industries & Construction of Korea, and Vietnamese
partners, Power Engineering Consulting Joint Stock Company 2 and Pacific
Corporation, has concluded a contract with state-owned Vietnam Electricity
(EVN) to build a coal fired thermal power plant in Vietnam.
The plant, located in Vinh Tan in Binh Thuan province, will be composed of two
units of 600 MW each with completion expected by 2017 for the first unit and by
2018 for the second unit.
Electricity demand in Vietnam is expected to see a remarkable increase of more
than 10% per annum in the coming years due to rising population and economic
growth. Southern Vietnam in particular, the country's largest economic
bloc, which includes Ho Chi Minh City, faces a critical situation in relation
to the current imbalance between existing supply and the increasing demand for
electricity. There is therefore urgent need for the development of power
generation infrastructure in the region.
Currently, nearly half the country's electricity supply is generated by
hydraulic power, but due to weather and other factors, the need for a more
stable source of electricity is ever more present. This project, therefore, is
expected to play an important role in preventing the shortage of electricity in
Under "New Strategic Direction", its recently released corporate
strategy, MC is seeking to accelerate global business development by leveraging
the shift towards Asian markets. As building multiple robust and large-scale
earnings drivers is also part of the company's business strategy, MC
intends to pursue other power generation related business opportunities in the
About Mitsubishi Corporation
Mitsubishi Corporation (MC; TSE: 8058) is a global integrated business
enterprise that develops and operates businesses across virtually every
industry including industrial finance, energy, metals, machinery, chemicals,
foods, and environmental business. MC's current activities are expanding
far beyond its traditional trading operations as its diverse business ranges
from natural resources development to investment in retail business,
infrastructure, financial products and manufacturing of industrial goods. With
over 200 bases of operations in approximately 80 countries worldwide and a
network of over 500 group companies, MC employs a multinational workforce of
nearly 60,000 people. For more information, please visit www.mitsubishicorp.com.
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