South Korea’s POSCO Group received approval to build its second coal-fired power plant in Vietnam. The Quynh Lap 2 project, valued at more than $2.5 billion, will be built in the north-central Nghe An province, on a land area of 171 ha and 37 ha of water surface. Quynh Lap 2 will operate two units with a total capacity of 1,200 megawatts (MW). Construction is expected to begin in 2022 and the project should be completed in 2026. Construction of Quynh Lap 1 began in October 2015 with total investment of $2.2 billion and Vinacomin as the investor. It is expected to begin operations in 2020.
