In mid-July, Ho Chi Minh City-headquartered Benvitek Co., Ltd. sent a document to Ho Chi Minh City People’s Committee proposing a venture on building a waste-to-power plant over 20 hectares, with an estimated construction duration of two years.

The plant will have a capacity to treat 4,000 tonnes of waste per day, generating 100MW per day, and simultaneously selling carbon credits to those in need, contributing to realising the government’s commitment to achieve net-zero emissions by 2050.

Also in mid-July, the Tam Sinh Nghia waste-to-power project in Ho Chi Minh City’s Cu Chi district kicked-off construction after years waiting for procedure settlement.

The project has a capacity to treat 2,000-2,600 tonnes of waste per day, with first-phase investment value reaching $266.6 million.

The project is being expedited by BCG Energy, a member of Bamboo Capital, after acquiring the project from Tam Sinh Nghia Investment Development.

Waste-to-power projects in the southern hub have grabbed a great deal of attention from investors.

Ho Chi Minh City People’s Committee has also granted investment certificates to a project by Vietstar Co., Ltd. which has a capacity to treat 2,000 tonnes of waste per day, and the project of Tam Sinh Nghia JSC.

Other projects by Tasco JSC and Vietnam Waste Solutions Co., Ltd. are in the investment preparation phase.

A renowned name Refrigeration Electrical Engineering Corporation also expressed desire to venture into this field with a proposal for building one such plant in Cu Chi district with a capacity to treat 2,000 tonnes of waste per day.

The project will have an estimated investment value approximating $194 million, to be implemented under a public-private partnership model. It has been submitted to Ho Chi Minh City People’s Committee and is being evaluated by the city’s relevant management bodies.

In Dong Nai province, many domestic and foreign investors have made proposals for waste-to-power ventures, in which a consortium of Ecotech Vietnam and Le Delta JSC has proposed building a plant in Vinh Cuu district, costing $95.2 million.

The project’s investment policy has been approved, and is in the process of making a feasibility study.

In the first half of this year, Dong Nai’s leaders received Taiwan’s Chieu Minh Investment Co., Ltd. and German investor Asia New Generation to learn about investment opportunities for waste incineration projects, of which the latter proposed one venture in the province’s Xuan Loc district.

According to company chairman Willy Andreas Kirsch, if approved, the company would spend $40 million on building a waste-to-power plant with a capacity to treat 400 tonnes of waste per day in the first phase, which will be raised to 1,000 tonnes per day in the following phase.

From the project deployment practice, several investors have expressed desire for the government to amend and complete the legal documents regulating waste-to-power plant investment to support investors.

For instance, Pham Minh Tuan, deputy chairman of Bamboo Capital, wanted that localities where accommodate waste-to-power ventures only need to present requirements related to the quality of emitted gas, waste water, and technology specifications, allowing the investors to be proactive in using technology that meets standards approved by competent state agencies.

“Besides that, policies need to be stable to encourage investors to invest in this field because waste incineration is a capital-intensive venture. If policies are short-term, very few businesses will dare to invest,” said Tuan.

Source: Vietnam Investment Review