The Phu My 3 BOT Power Company Ltd (PM3 BOT) built and operates a natural gas-fired combined cycle power plant with a capacity of 716.8 MW in Phu My, southern Ba Ria-Vung Tau province.
The plant will reach the end of its term of operation on February 29, 2024, after 20 years of commercial operation and will be transferred to the Vietnam side on March 1, 2024. Upon the successful transfer, PM3 BOT will continue with the liquidation of the company in accordance with the terms of the build-operate-transfer (BOT) contract and Vietnamese law. It is currently free of any loans or borrowings.
PM3 BOT and the authorized State body will agree on a plan for the transfer of technology, workers, documents, infrastructure facilities, and systems serving operations, business, and maintenance to the authorized State body or the agency or unit assigned to operate and conduct business and maintain the power plant. It will work closely with the authorized State body and relevant authorities to ensure a seamless transfer.
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