On June 16, 2026, at the headquarters of Pha Lai Thermal Power Joint Stock Company (PPC), PPC and Construction Corporation No. 1 - JSC (CC1) signed a memorandum of cooperation to jointly research, assess the potential, and prepare investment proposals for coal-fired thermal power plants with a total capacity of approximately 2,000MW at PPC's existing site, and assigned lead units to implement the project.

The signing ceremony marks the beginning of cooperation between PPC and CC1 in researching, investing in, and operating energy projects, contributing to national energy security and further development of the country. Both sides also expressed hope that the cooperation will be expanded in the near future.

“From CC1's perspective, we understand that participating in a large-scale energy project is not just about construction. It requires comprehensive capabilities in engineering, scheduling, finance, legal matters, safety, risk management, and coordination with multiple stakeholders. CC1 has accumulated experience in numerous large-scale industrial and energy projects, from the role of contractor and EPC consortium member to the role of investor. Specifically in the proposed cooperation with PPC, CC1 can participate from the investment preparation phase, Pre-FS, FS, technology optimization, capital arrangement, design, procurement, construction, installation, commissioning, and handover for operation,” said Mr. Le Bao Anh, General Director of CC1.

“If both sides work together with frankness, a scientific approach, and responsibility, we have a basis to turn today's MOU into a concrete action plan in the near future. For CC1, today's event is not just a signing ceremony. This is a commitment to partnership, a commitment to seriously, systematically, and responsibly research with PPC the investment opportunity to build a new thermal power plant on PPC's existing site – a site that already has infrastructure, operational experience, a technical team, and a very important position in the Northern power system,” Mr. Le Bao Anh emphasized.

According to Mr. Tran Phu Thai, Chairman of Power Generation Corporation 2 (EVNGENCO2), CC1 has over 46 years of construction and development since 1979, affirming its position as one of the leading enterprises in Vietnam in the field of contracting and constructing civil, industrial, and infrastructure projects, especially energy projects.

“CC1’s reputation and capabilities as an EPC general contractor in key national projects are the clearest evidence of your company’s quality and dedicated commitment to sustainable value. Over the years, CC1 has participated in the construction of many projects in the power industry. In particular, the Corporation participated in the construction of the O Mon 1 Thermal Power Plant of EVNGENCO2. We highly value this cooperative relationship and consider it a good example of the synergy of strengths between two large enterprises,” said Mr. Tran Phu Thai.

Accordingly, in order to exploit and develop strengths and potential, as well as support each other in expanding and developing production and business activities, PPC and CC1 agree to jointly research and assess the potential, and prepare a feasibility study report for the construction of coal-fired power plants with a total capacity of approximately 2,000 MW at PPC's existing site in Chi Linh Ward, Hai Phong City. The feasibility study is expected to take 24 months from the date of signing this memorandum of understanding. In addition, the parties also plan to establish a joint venture company after completing the investment proposal study and once the results are agreed upon and approved by the competent authorities.

Pha Lai Thermal Power Joint Stock Company (PPC) is a subsidiary of Power Generation Corporation 2 (EVNGENCO2). PPC is a power generation unit that owns two coal-fired power generation lines with a total capacity of 1,040 MW. The units of Line 1 have been in commercial operation for 40 years, while the units of Line 2 have been in commercial operation for over 20 years.

Construction Corporation No. 1 – JSC (CC1) is a company with the capacity and experience in construction in the industrial, energy, transportation, technical infrastructure, and hydroelectric power plant sectors. Besides its role as a contractor, CC1 is also currently involved as an investor in large-scale projects, notably the Cat Lai Bridge and Long Hung Bridge construction projects.

In particular, CC1 has participated in the construction of numerous thermal power plant projects in Vietnam in various roles such as General Contractor, EPC consortium member, and construction contractor, undertaking construction, equipment installation, and construction management. Through this process, CC1 has accumulated solid practical capabilities in executing large-scale energy industrial projects, meeting stringent requirements for schedule, quality, and safety.

With experience in implementing large-scale thermal power projects, CC1 is capable of assuming the role of Investor or EPC General Contractor for large-scale thermal power plants in the near future.

Here are some more photos from the signing ceremony: