Quang Tri signs cooperation agreement on green growth with South Korean corporations

Continuing the investment promotion program in South Korea, on April 24, at the SK E&S Company office in Seoul, a delegation from Quang Tri province led by the Deputy Secretary of the Provincial Party Committee, Chairman of the Provincial People’s Committee Vo Van Hung, signed a Memorandum of Understanding between the Quang Tri Provincial People’s Committee and T&T Group Corporation (Vietnam) and SK E&S Energy Company under the SK Group of South Korea on cooperation in investment, trade, energy transition, and green growth.

Speaking at the signing ceremony, Chairman of the Quang Tri Provincial People’s Committee Vo Van Hung stated that the provincial government has agreed to allow the consortium of T&T Group Corporation and SK E&S Energy Company to conduct research and surveys and prepare documentation for converting the Quang Tri thermal power project from using coal to environmentally friendly fuel.

Chairman of the Quang Tri Provincial People’s Committee Vo Van Hung signed a Memorandum of Understanding between the Quang Tri Provincial People’s Committee and T&T Group Corporation (Vietnam) and SK E&S Energy Company, a subsidiary of the SK Group of South Korea, on cooperation in investment, trade, energy transition, and green growth. Photo: PK

At the same time, they will define the objectives, scale, and investment capital; the schedule for project implementation... These are crucial details for the collaboration to develop and promote the authority’s approval process for transitioning the project’s technology from coal to using liquefied natural gas (LNG) fuel; proposing to update and supplement the LNG project into the Eighth Power Planning Scheme for consideration and approval by the competent authority as a basis for implementing the next steps.

After detailed discussions, with a willingness to strengthen and enhance cooperation in investment, trade, and green growth in Quang Tri province, T&T Group Corporation and SK E&S Energy Company proceeded to sign the memorandum of understanding.

Accordingly, they agreed to enhance the exchange of information and cooperation in investment, trade, energy transition, and green growth in Quang Tri province, specifically in five areas: Cooperation to promote the conversion of the Quang Tri thermal power project from using coal to using LNG, which is more environmentally friendly.

Cooperation in developing low-carbon emission projects, including green hydrogen production projects. Cooperation in implementing projects related to carbon credits. Cooperation in researching and establishing a central LNG storage facility. Promoting research and investment or supporting Quang Tri province in attracting investment in other potential and sustainable development sectors in Quang Tri to accompany the provincial government in realizing the sustainable development goals according to the Quang Tri provincial planning for the period 2021-2030, with a vision to 2050 approved by the Prime Minister of Vietnam.

The Quang Tri Provincial People’s Committee commits to facilitating favorable conditions for T&T Group and SK E&S during the research, survey, and proposal preparation process for investment approval in accordance with Vietnamese laws and regulations. T&T and SK E&S pledge to closely cooperate with the Quang Tri Provincial People’s Committee in the survey, research, planning, financial mobilization, technology, and human resources deployment to implement the agreed-upon contents of this memorandum of understanding.

Phan Khiem - Ngoc Mai