Located in the southern province of Ba Ria-Vung Tau, the plant - built near the city of Phu My - is made up of two gas turbines, two heat-recovery & steam generation systems and a single steam turbine. Viet Nam Oil and Gas Corp will provide the gas and Electricity of Viet Nam has agreed to purchase its output for the next 20 years.
A consortium of shareholders, the Japan Bank for International Cooperation and a syndicate of commercial lenders funded the Phu My 3 project. It was constructed on a build-operate-transfer (BOT) contract between the Vietnam Ministry of Industry and the Phu My 3 BOT Co Ltd. When the BOT contract expires, Phu My 3 will be handed over to the Vietnamese government.
Phu My 3 BOT Co Ltd is a company made up of BP Holdings BV, SembCorp Utilities Private Limited and a consortium made up of Kyushu Electric Power Co Inc and Nissho Iwai Corporation.
