2026.11.10
On November 9, the Japan International Cooperation Agency (JICA) signed a loan agreement with the Government of the Socialist Republic of Viet Nam in Tokyo to provide Japanese ODA loan for the Project for the O Mon III Combined Cycle Power Plant Construction Project (I). On the same day, a document exchange ceremony was held at Akasaka Palace in the presence of To Lam, General Secretary of the Central Committee of the Communist Party of Viet Nam and President of the Socialist Republic of Viet Nam, during his visit to Japan, and Prime Minister Takaichi Sanae. At the ceremony, the L/A was exchanged between Minister of Finance Ngo Van Tuan of the Socialist Republic of Viet Nam and JICA President Tanaka Akihiko.
Document Exchange Ceremony (from left: General Secretary of the Communist Party of Viet Nam and President of Viet Nam To Lam, Minister of Finance Ngo Van Tuan, JICA President Tanaka Akihiko, and Japanese Prime Minister Takaichi Sanae) Photo courtesy of VNA
Against the backdrop of Viet Nam’s remarkable economic growth in recent years, the Project will construct a highly efficient gas-fired combined cycle power plant that produces relatively low greenhouse gas emissions and can respond flexibly to fluctuations in renewable energy output. The Project will help ensure a stable electricity supply and promote the wider deployment of renewable energy, thereby contributing to Viet Nam’s sustainable economic growth and enhanced industrial competitiveness. It is also expected to help stabilize the business environment for the more than 2,000 Japanese companies operating in Viet Nam.
The project outline is explained below.
- Country
(Target Areas)
Socialist Republic of Viet Nam (O Mon District, Can Tho City)
- Project Objective
The objective of the Project is to improve the power supply capacity in the southern region of Viet Nam by constructing a new gas-fired combined cycle power plant in the Mekong Delta area, thereby contributing to the promotion of economic growth and the enhancement of international competitiveness in the region.
- Project Component
1. Construction of a combined cycle power plant
2. Consulting services
- Maximum Loan Amount
27,901 million Japanese yen
- Annual
Interest Rate
Project: 1.4%, Consulting Services: 0.01%
- Repayment Period
30 Years
- Grace Period
10 Years
- Procurement
General Untied
- Executing Agency
Vietnam National Industry - Energy Group
- Contribution to SDGs
Goal 7（Affordable and clean energy）
Goal 9（Industry, innovation and infrastructure ）
-
Planned Implementation Schedule
Completion of the Project: May 2030, when the facilities are put into operation
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