The Hiep Phuoc LNG Power Plant Project (Phase 1) is located in Hiep Phuoc Industrial Park, Nha Be District, Ho Chi Minh City. The project is developed by Hiep Phuoc Power Company Limited, with a total investment of over VND 18,911 billion (approximately USD 892 million).

The project has a capacity of 1,200 MW and integrates LNG infrastructure, including an import terminal, storage tanks, and regasification facilities, supplying more than 7 billion kWh of electricity per year.

The project officially broke ground on March 26, 2026. The expected completion date has not yet been announced.