General Electric, Vietnamese firm ink power plant MOU
Mon Nov 23 2020
Lucy Harlow (3507 articles)

General Electric, Vietnamese firm ink power plant MOU

General Electric Co. and a Vietnamese company on Saturday signed a memorandum of understanding to develop a liquified natural gas power plant, according to GE and a senior Trump administration official.

The signing took place during an event in Hanoi attended by Robert O’Brien, U.S. President Donald Trump’s national security adviser, who was on a three-day visit to Vietnam, said the official, who requested anonymity in order to discuss the issue.

Under the MOU signed with Vietnam’s EVNGenco3, the Massachusetts-based U.S. firm will endeavor to provide its “best-in-class” gas turbine technology, other equipment and services estimated at more than $1 billion over the lifetime of the project to be built near Ho Chi Minh City, GE said in a statement.

GE said the Long Son LNG facility in Ba Ria-Vung Province would provide 3,600-4,500 megawatts of power to the country.

Pacific Corp., Vietnam’s Power Engineering Consulting Joint Stock Company 2 and TTC Group, and Mitsubishi’s Corp.’s local subsidiary, also will participate in the project, GE said.

O’Brien was scheduled to meet government officials and speak to students during his visit.

His visit followed what Hanoi said was the humanitarian release in October of an American, Michael Nguyen, who was sentenced to 12 years in prison for attempting to overthrow the state

Lucy Harlow

Lucy Harlow

Lucy Harlow is a senior Correspondent who has been reporting about Commodities, Currencies, Bonds etc across the globe for last 10 years. She reports from New York and tracks daily movement of various indices across the Globe

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