The Thai Binh LNG Thermal Power Plant project, a joint venture between two Japanese firms, namely Tokyo Gas and Kyuden International, and Truong Thanh Group Vietnam Joint Stock Company, is set to commence construction in the third quarter of 2025.

The $2 billion project is designed to generate approximately 1,500 MW of power and is expected to contribute significantly to Vietnam's energy security.

During the construction phase, the project is estimated to generate approximately VND3.6 trillion (over $142 million) in annual tax revenue for the state budget. Once operational, the annual tax revenue is projected to exceed VND4 trillion ($158 million).

Thai Binh Province has prioritized this project as a key driver of local socio-economic development. Provincial leaders have committed to supporting the project's implementation and resolving any challenges faced by the investors.

Mr. Toshihide Kasutani, Executive Vice President of Tokyo Gas, expressed the consortium's commitment to the project's timely execution. The consortium is currently finalizing investment plans and mobilizing resources to ensure a smooth start to construction.

Mr. Nguyen Khac Than, Chairman of the provincial People's Committee stated that the local authorities pledged to facilitate the project's implementation by delivering clean land according to the agreed-upon schedule.