Vingroup Launches $6.74B Projects in Hai Phong: LNG Power Plant & Industrial Park

Vingroup's ambitious projects aim to establish a new growth pole in Vietnam. The LNG power plant will be one of the world's leading facilities, while the industrial park targets advanced industries like electronics and clean energy.

, and Administrator

2025 October 3 . 12:35 AM

1 min read

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Vingroup Launches $6.74B Projects in Hai Phong: LNG Power Plant & Industrial Park

Vingroup has initiated two significant projects in Hai Phong, Vietnam: the Hai Phong LNG power plant and Phase 1 of the Tan Trao Industrial Park. These ventures, with a combined investment of over VND178 trillion ($6.74 billion), aim to establish a new growth pole in the Southern Coastal Economic Zone.

The Hai Phong LNG power plant, Vietnam's largest thermal power plant, is set to be constructed over five years and commence operations by late 2030. It will supply approximately 9.6 billion kWh per year in Phase 1, doubling to 19.2 billion kWh per year in Phase 2. This 4,800 MW facility, located within the Tan Trao Industrial Park, is developed by a joint venture between Vingroup and VinEnergo JSC, involving SK E&S, JGC Holdings, and Mitsubishi Corporation.

The Tan Trao Industrial Park, covering nearly 227 hectares, is expected to become a major hub for advanced industries and technologies. With an investment of VND4 trillion ($151.46 million) for Phase 1, it aims to attract sectors like electronics, telecommunications, and clean energy. The industrial park is set to be developed over five years, from Q2/2025 to Q2/2030, by Vinhomes Hai Phong Industrial Park Investment JSC.

These projects reflect Hai Phong's determination to foster new growth and Vingroup's strategic move into clean energy. Upon completion, the Hai Phong LNG power plant will be one of the world's leading LNG-fired power facilities, significantly contributing to Vietnam's power supply. Meanwhile, the Tan Trao Industrial Park is poised to attract advanced industries, further boosting Hai Phong's economy.