Vingroup Commences Construction on Major Industrial and Power Projects
Vingroup, Vietnam’s leading private conglomerate, on Friday commenced construction on two enormous projects under the observation of Prime Minister Pham Minh Chinh: Phase 1 of the Tan Trao Industrial Park and the Hai Phong LNG-to-power plant, which is set to become the largest of its kind in Vietnam.
The first of these massive undertakings, the Tan Trao Industrial Park, represents an investment of VND4 trillion (approximately $151.46 million) for its initial phase alone.
This development is managed by Vinhomes Hai Phong Industrial Park Investment JSC.
It encompasses a substantial area of nearly 227 hectares across the Kien Hung and Nghi Duong communes.
The project is scheduled to be built over a five-year period, running from the second quarter of 2025 to the second quarter of 2030.
Once completed, it is intended to function as a major, modern hub for advanced industries and high-technology enterprises, featuring state-of-the-art technical infrastructure.
It is designed to attract diverse, high-value sectors such as electronics, telecommunications, pharmaceuticals, supporting industries, new materials manufacturing, clean energy production, and renewable energy technologies.
With its sheer scale, strategic location, and synchronized development orientation, Tan Trao is positioned to become one of Hai Phong’s new primary growth drivers and is intended to serve as a model industrial hub for the entire country.
It is anticipated that the fully operational park will gather tens of thousands of highly skilled workers from across Vietnam and even internationally, solidifying its role as a key economic engine.
Integrating Clean Energy with Industrial Development
The second major project, the colossal 4,800 MW Hai Phong LNG power plant, is strategically located right within the new Tan Trao Industrial Park, creating a powerful, symbiotic industrial-energy ecosystem.
This major energy facility is being developed by a joint venture between Vingroup and its subsidiary, VinEnergo JSC.
The plant will cover a ground area of nearly 100 hectares and commands a total investment exceeding VND178 trillion (more than $6.74 billion).
Construction is planned over five years, with commercial operations targeted to begin by late 2030.
The power plant is designed to supply approximately 9.6 billion kWh annually in its first phase and an eventual 19.2 billion kWh per year in its second phase.
This immense output will serve the high energy demands of the Tan Trao Industrial Park directly while simultaneously contributing a critical supply to the national grid, thereby significantly enhancing Vietnam’s energy security and reducing the nation’s reliance on traditional, less clean fossil fuels.
With a designed capacity of 4,800 MW—split into 1,600 MW for Phase 1 and 3,200 MW for Phase 2—this facility will be recognized as Vietnam’s largest thermal power plant, as specified within the National Power Development Plan VIII, and will rank among the world’s leading LNG-fired power generation facilities.
The launch of this plant marks a strategic and decisive step for Vingroup in committing to the clean energy transition and actively paving the way for sustainable, green economic development across its business platforms.
Vingroup’s Role in Hai Phong’s Strategic Transformation
These two interconnected projects reflect Hai Phong’s strong determination to establish a new, modernized growth pole in the Southern Coastal Economic Zone, with Vingroup acting as a major catalyst for the city’s long-term economic restructuring towards sustainability.
Nguyen Viet Quang, the vice chairman and CEO of Vingroup, speaking at the groundbreaking ceremony, emphasized the profound synergy between the two developments.
He stressed that the Tan Trao Industrial Park will not merely create new, modern infrastructure to attract high-tech industries, but will also be seamlessly integrated with the Hai Phong LNG power plant, a strategic project specifically aimed at ensuring a stable and reliable electricity supply.
“This synergy forms a closed industrial-energy ecosystem, boosting investment appeal and fostering sustainable development,” he stated, noting that “It is a comprehensive development model that Vingroup hopes to replicate, contributing to the nation’s industrialization and modernization.”
Prime Minister Pham Minh Chinh reinforced this vision, stressing that rapid development must be harmonized with sustainability principles.
He cautioned, “We cannot attract investment at any cost. We must be selective, prioritizing high technology, technology transfer, and high-quality human resource training, thereby enhancing governance and ensuring green development.”
He concluded that the two projects launched today are of great significance in realizing that national vision.
This current effort builds on Vingroup’s previous success in the region, such as the VinFast automobile manufacturing complex in Cat Hai, which has become a key growth engine since its launch in June 2019, significantly contributing to making Hai Phong’s GRDP among the highest nationwide in recent years.
