A consortium consisting of Korea Electric Power Corporation and Marubeni entered into several contracts with the Ministry of Industry and Trade (MOIT) of Vietnam and several other Vietnamese parties in relation to the Nghi Son II project involving the construction and operation of coal-fired power plant with total net capacity of 1,200 megawatts. These contracts include the BOT (build, operate and transfer) contract, a power purchase agreement, a government guarantee and a land lease contract. The term of this project is expected to be from December 2017 to December 2046, comprised of 4 years of construction and 25 years of operation.

The project will be operated by a special purpose company, which is owned 50:50 by KEPCO and Marubeni. The total project cost is expected to be approximately USD 2.34 billion, and KEPCO expects to invest approximately USD 287 million for the equity interest in the special purpose company. KEPCO was awarded this project by the MOIT after competitive international bidding.