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August 19, 2008

Malaysia’s Toyo Ink plans $1bn power plant in Vietnam

Malaysia’s Toyo Ink Group plans to invest more than $1 billion in a coal-fired power plant in Vietnam, reported Reuters on Monday.

The ink maker has already applied to build the 1,200-megawatt (MW) plant in Kien Luong district in the southern province of Kien Giang, Vietnam’s Planning and Investment Ministry-run Dau Tu (Investment) newspaper was quoted by Reuters as saying.

The company will have 100 percent ownership of the plant, which will use imported coal as it is located in Kien Giang, far from Vietnam’s northern coal hub.

State oil monopoly Petrovietnam and industrial park operator Itaco have also planned to invest in two other coal-fired power plants in Kien Luong with capacity of 2,000 MW and 1,200 MW respectively.

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