General Electric, Vietnamese firm ink power plant MOU: GE, U.S. official

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© Reuters. FILE PHOTO: The General Co. logo is seen on the company’s headquarters building in Boston

(Reuters) – General Electric (NYSE:GE) Co. and a Vietnamese company on Saturday signed a memorandum of understanding to develop a liquified gas power plant, according to GE and a senior administration official.

The signing took place during an event in Hanoi attended by Robert O’Brien, ’s national adviser, who was on a three-day visit to Vietnam, said the official, who requested anonymity in order to discuss the issue.

Under the MOU signed with Vietnam’s EVNGenco3, the Massachusetts-based U.S. firm will endeavor to provide its “best-in-class” gas turbine , other equipment and services estimated at more than $1 billion over the lifetime of the project to be built near Ho Chi Minh City, GE said in a statement.

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GE said the Long Son facility in Ba Ria-Vung Province would provide 3,600-4,500 megawatts of power to the country.

Pacific Corp., Vietnam’s Power Engineering Consulting Joint Stock Company 2 and TTC Group, and Mitsubishi’s Corp.’s local subsidiary, also will participate in the project, GE said.

O’Brien was scheduled to meet government officials and speak to students during his visit.

His visit followed what Hanoi said was the humanitarian release in October of an American, Michael Nguyen, who was sentenced to 12 years in prison for attempting to overthrow the state.

Source: Investing.com

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