Exxon Mobil plans $20 bln power project in Vietnam

Exxon Mobil Corp is preparing to invest around $20 billion in a gas-fired power complex with Vietnam’s state oil and gas group Petrovietnam, according to the Trade Ministry, the Thanh Nien (Young People) newspaper reports.

The project envisages construction of two power plants with a combined capacity of 6,000 to 6,500 megawatts, which could make the United States one of the top four foreign investors in Vietnam along with Japan, South Korea and Taiwan, the report said.