“Vietnam is heading for the first world whilst the UK [Australia, Europe and the virtue-signalling West] is headed for the third world.” Reader Phillip Bratby
Bizarrely true statement.
By Paul Homewood
Vietnam is to set to go ahead with three new coal power plants, to be financed by Japan, South Korea and Saudi Arabia.
The Vietnamese government is set to approve investment licenses for three coal-fired power plants worth a combined $7.5bn.
The country continues to rely on coal power and hydropower to securely meet the country’s annual electricity demand growth of 11 per cent.
Two of the projects by Japanese, South Korean and Saudi Arabian investors are expected to receive licences ahead of Vietnamese Prime Minister Nguyen Xuan Phuc’s visit to Japan next month, investment minister Nguyen Chi Dung told Reuters on Tuesday.
Details provided by the investment ministry showed South Korea’s Taekwang Power Holdings Co. and Saudi Arabia’s ACWA Power would invest $2.07bn for a 1,200 MW thermal power plant.
Each investor would have a 50-percent stake in the plant and commercial operation is…
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