PV GAS, AES exchange joint venture agreement on the establishment and operation of Son My LNG port warehouse limited company (Photo: VNA)

The signing ceremony was witnessed by President Nguyen Xuan Phuc who is on New York to attend the general debate of the 76th session of the United Nations General Assembly (UNGA).

The joint venture agreement was based on the main terms of the joint venture contract of Son My LNG (liquefied gas) port warehouse project signed in October 2020.

The Son My LNG port warehouse is one among a series of LNG power projects in the south central province of Binh Thuan, with an estimated total investment of 1.31 billion USD, and a capacity of 3.6 million tonnes a year in the first phase and up to 9 million tonnes in the next phase.

The port will receive, process and supply LNG reprocessed as fuel for Son My 1 and Son My 2 power plants, expected to be put into operation by the end of 2025.

Speaking at the signing ceremony, President Phuc said that the project has drawn attention of both Vietnam and the US.

The two corporations’ formation of the Son My LNG port warehouse limited company to carry out the construction of the Son My LNG port warehouse project will contribute to ensuring reprocessed LNG to serve power demand of the key southern economic zone in particular and Vietnam in general.

The signatories pledged to conduct procedures to put the company into operation in November./.

CPV (Source: VNA)