ITA Group is pleased to announce the contract signing ceremony to develop the Kien Luong 4,400MW Thermal Power Centre with estimated capital investment about 6.7 billion USD and the entrepôt Deep Water Port at Nam Du archipelago, also called Nam Du-Kien Luong Port, with estimated capital investment about 1 billion USD. ITA Group will sign the contract with BLACK & VEATCH, an American leading global engineering, consulting and construction corporation and FHDI Engineering Co., LTD (FHDI), one of the fifty world leading port developers; and Power Engineering Consulting Joint Stock Company 2 (PECC 2). The ceremony will take place at 5:30 p.m. on April 08 2008 at
This is the first largest project of thermal power in
Follow the principle approval of the Prime Minister and of the People Committee of Kien Giang Province for ITA Group to invest in the Kien Luong complex of thermal power centre, industrial park, and residential area, ITA Group and many leading domestic and international consulting companies have been working aggressively to develop the master plan of Kien Luong Thermal Power Centre which is approved by the Ministry of Industry and Trade on February 27 2008.
THE NECESSITY OF THE PROJECT
The ratio of resilience in electricity shows that the demand for power in
On the other hand, petroleum and gas have become more expensive than those of the past and extremely rare at the time being. Under such circumstances, thermal plants utilized F.O. oil and gas turbine alloy plants of D.O. or F.O. oil are uneconomical and uncompetitive in compared to thermal power plant which is utilized coal. In accordance with the strategy for energy diversification in electricity, it is necessary to take into consideration of a thermal plant using imported coal after 2010.
In order to meet the increasing demand of electricity and also to solve the above issue, the Government is calling for investment from both domestic and international investors in power industry, in addition to the focus on new resources for electricity and the exertion of the electricity industry as well.
On July 18 2007, the Prime Minister approved of the National Electricity Development Master Plan (Master Plan 6) for 2006-2015, and estimated that, by Decision No. 110/2007/QĐ-TTg, the country demand for electricity by the year 2025 is likely to increase by 17% per annum (minimum estimation) and 20% per annum (maximum estimation), in which the latter should be taken as the directive role, and at the same time prepared for a 22% rate in unexpected substantial increasing. Pursuant to the approved Master Plan 6,
On July 15 2007, the National Office issued the official document No. 3941/VPCP-QHQT to approve for ITA Group making the master plan for the complex of Industrial Park, residential area, Thermal Plant of a capacity 4,400 MW and Deep Water Port in Kien Luong District, Kien Giang Province.
To implement the mentioned approval, ITA Group has consulted with the Ministry of Industry and Trade and approved of developing the master plan for Kien Luong Thermal Power Center under the official correspondence No. 0694/BCT-NL and the Decision No. 0760/QĐ-BCT on January 30 2008.
ITA Group has also signed an agreement for consulting services with the Power Engineering Consulting Joint Stock Company 2 (formerly the Power Engineering Consulting Company 2) to develop the master plan of
ABOUT ITA GROUP
ITA Group, also known as ITACO, has been in operation for over 11 years with over 20 affiliated companies in various industries. ITA Group is currently one of the leaders in Industrial Park and Infrastructures Development in
ITA Group has been extraordinarily successful in both operations and investments to continue its development, expansion and growth. ITA Group has provided at least 70,000 stable jobs and aimed to generate about 100,000 employments for the next five years. ITA Group has been supporting and developing Binh Tan district, one of the poorest districts in
In the beginning, ITA Group’s first project involved in transforming an area of low agricultural production value, 12km westward of
On November 15th 2006, ITA Group was listed on the stock market of
ITA Group currently has over 1,000 employees, and the most of them hold bachelor degrees. The management board consists of 12 individuals who have earned PhDs and Masters Degrees from reputable institutions in within and outside of the country.
ITA Group is also one of the leading charitable organizations in
Ha Noi, April 8th 2008
For futher information, please contact
Nguyen Tuan Minh – ITA Group Vice President
Telephone number: 0903.822.030