Russia, Vietnam agree deal on nuclear power plant construction

Russia and Vietnam signed an inter-governmental agreement on cooperation in construction of the Ninh Thuan 1 nuclear power plant in Vietnam, Russia’s state nuclear energy corporation Rosatom said on Monday.

Vietnam needs to secure more electric power as it has faced major power blackouts because demand from its huge industrial sector and expanding middle class often outpaces supplies, strained by more frequent extreme weather, including droughts and typhoons.

The project is part of Vietnam’s strategy to boost power generation capacity. Communist-ruled Vietnam has traditionally maintained close ties with Russia.

Rosatom, the world’s leading nuclear power plant builder, said the agreement outlines the terms and main areas of cooperation between the parties in implementing the construction project. No detail on cost was specified.

It foresees construction of two Russian-designed power units with a combined capacity of 2,400 megawatts (MW).

Work on nuclear plants in central Vietnam started in the early 2010s but was halted in 2016 when Hanoi suspended its nuclear power programme over safety and budget concerns.

Russia had already been awarded the Ninh Thuan 1 project and was expected to sign the deal.

After it resumed its nuclear energy programme in 2024, Vietnam asked Japan and Russia to implement the projects, while in December, Tokyo decided to drop out of the plans to build a nuclear power plant in the country.

(Reuters)