Investors have not fulfilled many obligations according to regulations
The Bac Lieu Liquefied Natural Gas (LNG) Power Plant project at Bac Lieu LNG Power Center, Ca Mau province, invested by Delta Offshore Energy Pte. Ltd (DOE), has a designed capacity of 3,200 MW, with a total registered capital of about 93.6 trillion VND (equivalent to about 4 billion USD). This is one of the large-scale projects expected to supplement the national power system.
However, the thematic inspection conclusion of the Ca Mau Inspectorate shows that by the time of inspection, the project had not yet started construction but had just stopped at the investment preparation stage.
The Inspectorate determined that Delta Offshore Energy Pte. Ltd still has many contents that have not been completed according to regulations. Although it was granted an Investment Registration Certificate from the beginning of 2020, it has not deposited to ensure project implementation according to the provisions of the Investment Law. This has led to the locality not having a basis to issue decisions to recover land, allocate land, and lease land for project implementation.
By the time of inspection, about 69.81ha of land on the shore within the project scope was still managed and used by households.
In addition, although the specialized agency of the Ministry of Industry and Trade has issued a document appraising the basic design and has opinions on the Feasibility Study Report since the end of 2021, the investor has not yet approved the Feasibility Study Report to implement the next steps according to regulations.
Many procedures are still unfinished
Besides the shortcomings of investors, the inspection conclusion also clearly pointed out some parts of work under local responsibility that have not been completed.
The Provincial Land Fund Development Center is slow to implement the coordination contract for compensation, support, and site clearance signed with the investor. Vinh Hau Commune People's Committee has not completed the review and update of the project into the land use plan and adjusted related contents after changing administrative boundaries.
According to the report of the old Bac Lieu Provincial People's Committee, many procedures under the local authority have been implemented. The province has repeatedly reported to the Ministry of Industry and Trade, proposing the Prime Minister to consider contents beyond its authority. After merging administrative units, Ca Mau Provincial People's Committee continues to direct specialized agencies to complete site clearance and handle the remaining tasks.
According to the inspection conclusion, many difficulties of the project are currently under the jurisdiction of central ministries and sectors.
By the time of inspection, the 500kV Bac Lieu - Thot Not transmission line had not been decided on investment policy, had not been assigned to a unit for implementation, and had not determined the source of capital and investment progress. This is also the reason why the project did not meet the conditions to sign an electricity purchase and sale contract with Vietnam Electricity Group (EVN).
Inspection documents show that Delta Offshore Energy Pte. Ltd and EVN have negotiated electricity purchase and sale contracts many times but have not reached a consensus due to differences in terms of ensuring international capital arrangement requirements.
To remove the remaining difficulties, Bac Lieu Provincial People's Committee previously proposed to the Prime Minister to soon approve the investment policy and assign the unit to implement the 500kV Bac Lieu - Thot Not transmission line. The locality also proposed that ministries and sectors soon complete the relevant mechanism so that the project is eligible to sign electricity purchase and sale contracts and deploy investment.
According to the schedule adjustment decision, the investment preparation phase is extended to the third quarter of 2026, and the plant is expected to be put into operation by the end of 2030. However, the Provincial Inspectorate assessed that the workload is still very large, requiring the investor, local authorities and relevant ministries and sectors to urgently complete the tasks under their authority to be able to meet the set schedule.
