The consortium led by the South Korean Samsung C&T, a Samsung Group company, has won a deal to build Vietnam’s first liquefied natural gas (LNG) terminal.
The consortium, including Samsung C&T and Petrovietnam Technical Services Corporation (PTSC), is set to build the facility that includes a 180,000-cbm LNG storage tank in a coastal area southeast of Ho Chi Minh City in Vietnam.
The deal is worth a total of $179.6 million with Samsung C&T entitled to 61 percent of the proceedings ($109.5 million), Soth Korean engineering company said in its statement.
The Tibai LNG facility will be constructed over a 40-month period with construction starting on June 30, 2019, and completion expected in October 2022.
Once completed, the facility will provide natural gas to the Nhon Trach combined cycle power plant.