Vietnam aims to sign nuclear power plant deal with Russia in August

Vietnam’s government said on Tuesday it aims to sign an agreement with its Russian counterpart in August to build the Southeast Asian country’s first nuclear power plant, Azernews reports, citing Arab News.

Site clearance for development of the plant in Ninh Thuan province is to be completed by the end of this year, the government said in a statement.

The move follows Vietnam’s restart of plans to develop nuclear power plants that were suspended nearly a decade ago, as part of its efforts to ramp up its power generation capacity to support its fast-growing economy.

The government has previously said it expected the first nuclear power plants with a combined capacity of up to 6.4 gigawatts to be online between 2030 and 2035.

The government said on Tuesday it has told the finance ministry, central bank, state energy firm Petrovietnam and utility firm EVN to work with related parties on loans for the project.