Vietnam okays BP power plant

Vietnam okays BP power plant

HANOI (Reuters): The Vietnamese government has approved the construction of a $359 million gas-fired power plant led by energy giant BP, an industry official said on Wednesday.

The official from the state utility Electricity of Vietnam (EVN) told Reuters the approval has been granted on Monday for parties to move forward in building the Phu My 3 power project.

"The government on Monday has agreed for the Phu My plant to go ahead," he said.

"Involved parties will conclude several documents of this project within this month."

The 700-megawatt plant, in which BP holds a 100 percent stake after the withdrawal this year of Norwegian partner Statoil, will be built by Germany's Siemens in the southern province of Ba Ria- Vung Tau.