Secretary of Ninh Binh Provincial Party Committee receives delegation from TKG Taekwang Group

Tuan expressed his pleasure at welcoming the delegation to Ninh Binh province. He noted that the Republic of Korea (RoK) is currently a Comprehensive Strategic Partner of Vietnam. Ninh Binh has established cooperative relations with nine Korean localities, while around 2,000 Korean citizens are living and working in the province alongside numerous Korean-invested enterprises.

Recognising TKG Taekwang Group’s positive contributions to Vietnam’s socio-economic development over the past three decades, Tuanhighly appreciated the group’s commitment and perseverance in implementing the Nam Dinh I BOT Thermal Power Plant Project. He emphasised that the project is an important power generation source included in the revised National Power Development Plan VIII.

With a total investment of more than 2 billion USD and a designed capacity of approximately 1,100 MW, the project plays a significant role in ensuring national energy security, particularly for northern Vietnam in the coming years, he stressed.

The project has made considerable progress, including the completion of the environmental impact assessment report, the near-finalisation of negotiations on component agreements, and the implementation of land clearance and resettlement area construction by local authorities. However, several challenges remain, particularly those related to the application of regulations governing Public-Private Partnership (PPP) investments and a number of procedures under the authority of central government agencies.

Regarding recommendations raised by TKG Taekwang Group and Nam Dinh I Power Company Limited, Tuan reaffirmed Ninh Binh province’s commitment to accompanying and supporting investors. He pledged that the province would continue working closely with relevant ministries and central agencies to address outstanding issues and facilitate the project’s implementation in accordance with Vietnamese law.

The official also stressed the province’s consistent development philosophy that economic growth must go hand in hand with environmental protection, and that environmental sustainability should never be sacrificed for economic gains. Therefore, Ninh Binh expects the investor to continue studying and applying advanced technologies to ensure the project fully complies with Vietnam’s environmental standards and aligns with the Government’s commitment to achieving net-zero emissions by 2050.

For her part, Ahn said that since 2022, TKG Taekwang Group has actively coordinated with the Ministry of Industry and Trade and relevant agencies to resolve difficulties related to mechanisms, policies and legal procedures. To date, most key issues have been largely addressed and have received support from central authorities.

The group expects the remaining procedures to be completed soon so that the BOT contract can be officially signed, with a target of commencing construction within this year.

Regarding environmental protection, Ahnaffirmed that the group fully shares Ninh Binh province’s development orientation, which prioritises sustainable and harmonious growth among the economy, society and the environment rather than pursuing economic growth at the expense of environmental protection.

She also emphasised that the successful implementation of the project would provide a solid foundation for the group to further explore and expand investment opportunities in northern Vietnam, including Ninh Binh province, thereby contributing to local socio-economic development, creating more jobs and strengthening Vietnam RoK cooperation./.