Marubeni establishes QNLP project in Vietnam

Marubeni, along with Petrovietnam Power Corporation, COLAVI JSC, and Tokyo Gas Co., Ltd., established Quang Ninh LNG Power JSC (QNLP) for a feasibility study and a project development of the LNG to Power Project in Cam Pha District of Quang Ninh Province, Socialist Republic of Vietnam, after receiving an Investor Registration Certificate from the Vietnamese government.

QNLP will conduct a feasibility study for this Project, constructing, owning, and operating a combined cycle gas-fired power plant with a 1,500 MW generation capacity. QNLP will assess its economic and technical feasibility, and then aim to bring the business to full operation after shareholders make a final investment decision.

Marubeni highlighted green strategy as one of its main policies to increase corporate value. As part of its green strategy, Marubeni has been taking part in LNG to power businesses, which contribute to the need for transitioning to a low-carbon society. Based on the knowledge and experience gained through these businesses, Marubeni will promote the development of this Project, as well as contribute to a sustainable economic growth for Vietnam.

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