Intra Asia plans to build coal port in Vietnam

Petromindo|Boim

Indonesia?s PT Intra Asia signed on Wednesday a MoU with the Vietnamese government for the development of a coal port in South Vietnam.

Intra Asia said in a statement that the MoU was signed by company President Director Justin Lim and Chairman of Hong Pat Coal and Resources-Vietnam, Phan Ngo To Hong in Jakarta.

The coal port will facilitate coal import from Indonesia dedicated for power plants in Vietnam, the statement said. It added that the port will also facilitate Vietnam?s export to Indonesia such as rice and clinker.

Total investment for the port project is estimated at US$1 billion. Port cargo and logistics capacity is planned to reach 15-20 million tons per year.

This year, Indonesia is expected to export around 4.5 million tons of coal to Vietnam, the statement said. According to Electricity Vietnam, coal accounted for 30 percent of the country?s installed power capacity of 42,000 MW.

Editing by Reiner Simanjuntak