Signing ceremony of EPC contract for Component 1 (Power Plant) of Quang Trach II LNG Thermal Power Plant Project

16:26, 09/02/2026

On February 9, 2026, in Hanoi, Vietnam Electricity (EVN), the Power Project Management Board No. 2 (PPMB2), and the Powerchina – Vietnam Machinery Installation Corporation (LILAMA) Joint-venture Contractor solemnly held the signing ceremony for the EPC (Engineering, Procurement, Construction, Testing and Acceptance) contract of Component 1 (Power Plant) of the Quang Trach II LNG Thermal Power Plant (QT2TPP) Project, with a total contract value of over VND 25,202 billion (including USD 639.8 million and VND 8,341 billion).

Attendants at the signing ceremony were Comrade Le Manh Hung - Member of the Central Committee of the Communist Party of Vietnam, Acting Minister of Industry and Trade; representatives from several departments and divisions of the Ministry of Industry and Trade; representatives from the Ministry of Finance; leaders of Vietnam Electricity; representatives from PPMB2; leaders of the POWERCHINA – LILAMA Joint Venture; representatives from banks financing the project including Vietcombank, VietinBank, BIDV and Agribank; and representatives from news agencies, press and related units.

QT2TPP project is being built in the Hon La Economic Zone, Phu Trach commune, Quang Tri province. EVN is the investor, and PPMB2 is directly managing and implementing the project. This is a nationally important energy project according to the Power Development Plan VIII, with a capacity of 1,612.8MW (2 x 806.4MW). It utilizes combined-cycle gas turbine technology and plays a key role in shifting the power source structure towards green transition, contributing to energy security, improving the reliability of the power system, and fulfilling Vietnam's commitments to reducing greenhouse gas emissions. The project is invested with a total amount of over VND 52,490 billion, of which 20% is equity capital and 80% is commercial loan capital. The entire project comprises two sub-projects: Sub-project 1 - Power Plant, with a total investment of VND 40,123.455 billion. Sub-project 2 includes an LNG storage and port facility, with an estimated total investment of VND 11,800 billion. The project is co-financed by a group of four domestic commercial banks: Vietcombank, VietinBank, BIDV, and Agribank.

According to the signed EPC contract, the Joint-venture Contractors implementing the EPC package include:

- Foreign partner: China Power Construction Group (POWERCHINA), a reputable international corporation with experience in implementing similar projects in the region and around the world;

- Domestic partner: Vietnam Machinery Installation Corporation (LILAMA) is one of Vietnam's largest EPC contractors in the energy sector, with decades of experience in implementing large-scale, complex projects.

The EPC Contractors will undertake the entire project, from design, procurement, construction, installation, commissioning, and handover, ensuring that the project is completed on schedule as outlined in the Power Development Plan VIII, while also meeting high standards of quality, safety, and environmental protection. The investor and the EPC Contractors selected technology from General Electric Vernova (USA), one of the world's leading gas turbine suppliers, and all parties have made significant efforts to implement the project on schedule and efficiently.

When commissioned, QT2TPP is expected to supply approximately 10 billion kWh of power annually to the national power grid, contributing to energy security, increasing the proportion of green power sources, and achieving the energy transition goals outlined in the Power Development Plan VIII.

Speaking at the ceremony, EVN leaders emphasized that the signing of the EPC contract for QT2TPP Project is a significant milestone, demonstrating EVN's determination to implement large-scale, modern, and environmentally friendly power generation projects. The investor places particular importance on the quality and progress of the project and believes that the cooperation between the two experienced partners in the energy sector, both domestically and internationally, will create synergy to help the project achieve its set goals.

Representatives of the POWERCHINA – LILAMA Contractor affirmed their commitment to close coordination, applying advanced technical solutions, strictly adhering to contract provisions, Vietnamese laws and international practices, mobilizing full resources, and ensuring quality, progress, and safety throughout the project implementation.

The signing of the EPC contract for QT2TPP Project is clear evidence of the effectiveness of international cooperation in the energy sector, while also contributing to enhancing the capacity of domestic enterprises, promoting sustainable development, and helping to meet the power demand for the socio-economic development of the country.

Here are some photos from the ceremony: