With a proposal to integrate the Nghi Son LNG Thermal Power Plant project in central Thanh Hoa province with the Quynh Lap LNG Thermal Power Plant project in the neighboring province of Nghe An, SK Innovation (the investor) from South Korea aims to increase feasibility, reduce costs by hundreds of millions of USD, and supplement flexible power sources for Vietnam's North Central region.

This information was shared at a recent working session between a delegation of Thanh Hoa province, led by Mr. Mai Xuan Liem, Vice Chairman of the provincial People's Committee,  and SK Innovation Co., Ltd., led by Mr. Kim Nam Ho, Vice Chairman of its Board of Directors, to seek an option for the integration between the two projects. 

The Nghi Son LNG Thermal Power Plant project received investment policy approval in March 2024 and is listed among the national key power projects under the revised National Power Master Plan VIII. The project is required to be implemented as a priority in the 2025-2030 period, under Decree No. 225/2025/ND-CP newly issued by the Government.

According to SK Innovation's proposal, the project will be implemented in Thanh Hoa province's Nghi Son Economic Zone with a capacity of 1,500 MW, on an area of 33.09 ha of land and 8.46 ha of water surface. The project has a total investment capital of nearly VND51.6 trillion (over $1.95 billion), with groundbreaking scheduled for January 2027 and commercial operation in Q4 2030.

A key highlight of SK Innovation's proposal is an integrated infrastructure approach, developing the Quynh Lap - Nghi Son LNG project cluster instead of separate implementations. This approach allows for shared use of Quynh Lap's LNG storage system, jetties, and breakwaters, thereby reducing investment costs by approximately $700 million.

At the working session, Mr. Mai Xuan Liem  highly appreciated SK Innovation's investment proposal and affirmed Thanh Hoa's agreement in principle with the investor's proposal. He said that the province will soon establish a specialized task force led by the Nghi Son Economic Zone and Industrial Parks Management Board as a focal point, to coordinate with relevant agencies in the locality to address difficulties and implement necessary tasks as quickly as possible.