The Vung Ang III LNG Power Plant Project is located in Hoanh Son Ward, Ha Tinh Province, and is being developed by a consortium comprising PetroVietnam Power Corporation – Joint Stock Company (PV Power), Vietnam Machinery Erection Corporation – Joint Stock Company (Lilama), and B.Grimm Power Public Company Limited (Thailand) as the project investor. The project has a total investment capital of approximately VND 51.43 trillion (USD 2 billion).

The project will be implemented on a site covering approximately 67.67 hectares, including 51.71 hectares of land area and 15.96 hectares of sea surface area. The power plant will consist of two LNG-fired generating units with a total installed capacity of approximately 1,500 MW, comprising 750 MW per unit, serving the generation, transmission, and distribution of electricity in accordance with Vietnam’s National Power Development Plan VIII (PDP VIII).

The project received investment policy approval concurrently with investor approval on 9 June 2026. Under the approved implementation schedule, Unit 1 is expected to commence commercial operation in Q1 2031, while Unit 2 is scheduled to commence commercial operation in Q2 2032.