Vietnamese Prime Minister Pham Minh Chinh has designated the investors for the Ninh Thuan nuclear power project and addressed key issues related to its implementation.

He assigned Vietnam Electricity (EVN) as the investor for the Ninh Thuan 1 Nuclear Power Plant in Thuan Nam District and Vietnam Oil and Gas Group (PetroVietnam) as the investor for the Ninh Thuan 2 plant in Ninh Hai District.

Both plants are to be located in Ninh Thuan Province, south-central Vietnam.

The project, recently revived under a legislative resolution after an eight-year hiatus, is now progressing with renewed focus.

As head of the Steering Committee for Nuclear Power Plant Construction, the PM announced the investor appointments and issued directives while chairing the committee's second meeting in Hanoi on Tuesday.

The committee reviewed the tasks assigned after its first session on January 15 and discussed the detailed implementation plan for the nuclear power project.

Reports presented at the session indicated significant progress since the first meeting.

The Ministry of Industry and Trade is reviewing and adjusting Power Plan 8 to incorporate the Ninh Thuan project while also planning for future nuclear power development.

Meanwhile, the Ministry of Science and Technology is working on amendments to the Atomic Energy Law, a national research program on nuclear safety, and human resource training plans.

The People's Committee of Ninh Thuan Province has also established a provincial steering committee and a project support team, outlining its implementation strategy.

PM Chinh commended these efforts and urged all stakeholders to maintain a sense of urgency.

He emphasized the need for five-year and annual plans with clear milestones for the project, under which two nuclear power plants will be built in the province.

The PM stressed the need to expedite the project, setting December 31, 2031 as the latest completion date, with efforts to finish by December 31, 2030, to align with national anniversaries, including the 85th anniversary of the country's founding and the 100th anniversary of the Party’s establishment.

Regarding foreign partners, EVN, PetroVietnam, and relevant agencies were tasked with initiating negotiations within February and preparing contingency plans to have backup partners ready for any situation.

The prime minister also urged the two investors to review and assemble personnel trained in nuclear power, implement refresher training programs, and adopt policies to attract top talent for the project, including those qualified for positions such as chief commander and chief engineer.

To enhance project execution, the PM called for expanding the steering committee and forming a task force within the Ministry of Industry and Trade.

He also instructed ministries to identify necessary policies regarding land, resettlement, contractor selection, and project timeline reduction, with proposals due by February 15.

The ministry, as the standing agency of the project’s steering committee, must compile these recommendations for government approval and submit them to the legislative National Assembly for consideration at its ninth session.

The ministry must also finalize the revised Power Plan 8 and submit it to the government by February 28, as required by PM Chinh.

For project funding, he directed that contingency funds be allocated starting in 2025, with all necessary procedures completed by February 15.

He emphasized the need for transparency in contractor selection – whether by direct appointment or competitive bidding – to prevent corruption and misconduct.

The PM assigned his deputy, Bui Thanh Son, to oversee project tasks and conduct monthly reviews to address obstacles and accelerate progress.

At the first steering committee meeting, PM Chinh highlighted nuclear power as essential for clean energy.

He stressed that achieving double-digit GDP growth requires electricity growth of 15-18 percent. Nuclear technology, including power generation and medical applications, is vital for Vietnam’s development.

The Ninh Thuan nuclear project, initially approved in 2009 with EVN as the investor, involved partnerships with Russia and Japan for two plants totaling over 4,000 MW at an estimated cost of VND200 trillion (US$7.9 billion).

However, in 2016, it was suspended due to safety concerns, high costs, technological challenges, and changes in global energy trends.

On November 30, 2024, the legislature approved the restart of the project, based on the government’s proposal, to enhance energy security and support the country’s net-zero emissions goal by 2050.

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