Vietnam, Russia near agreement on Ninh Thuan 1 Nuclear Plant

THE HANOI TIMES — After multiple rounds of negotiations, Vietnam has basically reached an agreement with Russia on the draft intergovernmental agreement on cooperation to build the Ninh Thuan 1 nuclear power plant.

This information was released at a government meeting on January 26 on the progress of nuclear power projects.

According to the meeting, after reaching an agreement with Russia on the cooperation mechanism for the Ninh Thuan 1 project, the operator has completed the institutional framework and carried out several preparatory tasks, including site clearance and human resource training.

Last year, the Politburo issued Resolution 70 on ensuring national energy security, which requires the early implementation of the Ninh Thuan 1 and Ninh Thuan 2 nuclear power projects. Under the plan, Ninh Thuan 1 will be invested in by Vietnam Electricity (EVN) and located in Phuoc Dinh Commune in the central province of Khanh Hoa.

At a conference late last month, Nguyen Anh Tuan, President and CEO of Vietnam Electricity (EVN), said the agency expects the adjusted investment policy, the intergovernmental agreement and the project credit arrangements to be approved by competent authorities in 2026.

He added that the parties will continue discussions and complete preparations to start construction of several project components in 2026.

Earlier, Russia’s Rosatom held a phone call with Prime Minister Pham Minh Chinh and committed to cooperating with Vietnam to build the Ninh Thuan 1 plant using the most advanced technology.

Concluding the meeting, Prime Minister Chinh stressed that building a nuclear power plant is a large and strategic project with a century-long vision. However, this is also a new and high-tech field and a sensitive one, especially in terms of nuclear safety.

The government leader asked the Ministry of Industry and Trade, relevant ministries, agencies and groups to finalize draft reports and submissions of the Government Party Committee on the project.

The ministry was tasked with submitting the draft agreement between Vietnam and Russia and related proposals for review by competent authorities.

The prime minister noted that the reports and submissions must be concise, comprehensive and clearly present the implementation process, the status, results of negotiations and the core contents of the draft agreement on the Ninh Thuan 1 project that both sides have discussed in detail.

The reports should also address issues related to accelerating the Ninh Thuan 2 project. All reports and drafts must be completed on January 27.