The Vietnam-RoK Sub-Committee for Energy and Mineral Cooperation was set up in 2001 to share annual information about plans and the development policies of their respective countries concerning electricity, coal, oil and gas and minerals.

Since 2003, both sides have discussed the development of nuclear power and plans to increase the proportion of locally-made equipment in nuclear power plants in Vietnam.

At the seventh meeting, the two sides are expected to sign memoranda of understanding for implementation. Accordingly, the RoK’s Teakwang Group- investor in the Nam Dinh thermo-electrical power plant and the MoIT signed documents to carry out the project.

The Nam Dinh thermo-electrical power plant, with a capacity of 2,400 Megawatts is located in Hai Hau district, Nam Dinh province. The US$4.5 billion project is divided into two phases, each with a capacity of 1,200 Megawatts, invested in by Teakwang Group and the Hoang Anh Shipbuilding Industry Company (Hashinco).

The first generator is scheduled to be put into operation by the end of 2016 and the plant will be transferred to Vietnam after 25 years.