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Toyo Ink plans $1 bln Vietnam power plant

Sun Aug 17, 2008 11:52pm EDT

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HANOI, Aug 18 (Reuters) - Malaysia's Toyo Ink Group (TOYG.KL) has applied to invest more than $1 billion in a coal-fired power plant in Vietnam, a state-run newspaper reported on Monday.

The ink maker planned to build the 1,200-megawatt (MW) plant in Kien Luong district in the southern province of Kien Giang, the Planning and Investment Ministry-run Dau Tu (Investment) newspaper quoted the Industry and Trade Ministry as saying.

The company will have 100 percent ownership of the plant.

The plant in Kien Giang, far from Vietnam's northern coal hub, will use imported coal.

State oil monopoly Petrovietnam and industrial park operator Itaco ITA.HM 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. (Reporting by Nguyen Nhat Lam; Editing by Kim Coghill)



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