October 06, 2024
Industrials
GS Energy to build LNG plant in Vietnam
GS Energy, a unit of energy and retail conglomerate GS Group, said Nov. 28 it has partnered with a Vietnamese asset management firm to build a power plant fired by liquefied natural gas there to tap into the local electricity market.
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The company has signed an initial agreement with VinaCapital Investment to build a 3 gigawatt LNG-fired combined cycle power plant and sell electricity generated at the plant to the state-run Vietnam Electricity Group, the company said in a statement.
GS Energy and VinaCapital have yet to discuss details about the LNG project, a company spokesman said. The cost and other details were not immediately available.
By Ram Garikipati and newswires (ram@heraldcorp.com)
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