Vietnam’s government announced on Tuesday that it plans to sign an agreement with Russia in August to build the country’s first nuclear power plant.
Vietnam’s government said on Tuesday it aims to finalise an agreement with its Russian counterpart this August to construct the Southeast Asian nation’s first nuclear power plant.
According to a government statement, site clearance for the plant - located in Ninh Thuan province - is expected to be completed by the end of this year.
The announcement marks a major step in Vietnam’s renewed efforts to develop nuclear energy. The country had suspended its original nuclear plans nearly a decade ago, but is now reviving the project to help meet rising electricity demand driven by its rapidly growing economy.
Vietnam previously outlined targets to bring its first nuclear power plants online between 2030 and 2035, with a combined capacity of up to 6.4 gigawatts.
The government also said on Tuesday it has instructed the finance ministry, central bank, state energy company Petrovietnam, and utility provider EVN to coordinate with relevant parties to arrange financing for the project.
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