Published August 19, 2008

Toyo Ink to invest US$1b in Vietnam power plant

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(HANOI) Malaysia's Toyo Ink Group has applied to invest more than US$1 billion in a coal-fired power plant in Vietnam, a state-run newspaper reported on yesterday.

The ink maker planned to build the 1,200-megawatt (MW) plant in Kien Luong district in the southern province of Kien Giang, the Planning and Investment Ministry-run Dau Tu (Investment) newspaper quoted the Industry and Trade Ministry as saying. The company will have 100 per cent ownership of the plant.

The plant in Kien Giang, far from Vietnam's northern coal hub, will use imported coal.

State oil monopoly Petrovietnam and industrial park operator Itaco have also planned to invest in two other coal-fired power plants in Kien Luong with capacities of 2,000 MW and 1,200 MW respectively. -- Reuters