The subject - Phu My 3 BOT Power Company Ltd was established in 2001 with the task of building Phu My 3 BOT Thermal Power Plant (Build - Operate - Transfer BOT project). This plant has a contract capacity of 716.8 MW, operating in a closed combined cycle with a Siemens V94.3A gas turbine system and a steam turbine operated by a heat recovery system. The main source of operating fuel is natural gas supplied from the Nam Con Son gas pipeline purchased from Vietnam Oil and Gas Group (PVN). Power from the plant is fed to the transmission line to the substation of Vietnam Electricity (EVN).
According to public information, this plant officially operated the first gas turbine connected to the national grid from 01 Mar 2004 with a term of 20 years and was transferred without compensation to the Vietnamese side on 01 Mar 2024 after the expiration of the contract period. In the document dated 05 Jan 2022 to the Prime Minister, the Ministry of Industry and Trade said that after studying, the Ministry proposed the Prime Minister to assign EVN to take over this plant.
According to press information, after successfully transferring Phu My 3 BOT Thermal Power Plant, Phu My 3 BOT Power Company Ltd will carry out procedures to liquidate the company in accordance with the provisions of the Build - Operate - Transfer ("BOT") contract and the Vietnamese Law. The subject and the competent State agencies will agree on a plan to transfer technology, labor, records, and infrastructure systems to serve the operation, business, and maintenance of Phu My 3 BOT Thermal Power Plant. Besides, the subject has paid off all debts.
During our interview, despite trying best, the subject refused to share information surrounding the above-mentioned issue. Based on facts gathered in the press source, because Phu My 3 BOT Power Company Ltd has planned to liquidate its business after transferring Phu My 3 BOT Thermal Power Plant, prudence is necessary for transactions and we could not give out a credit limit to the subject.
+ THIRAVIAM J
+ NGUYEN T.H.L
-35.63%
-44.16%
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