Transfer of Phu My 3 BOT Thermal Power Plant to Ministry of Industry and Trade and Vietnam Electricity
Allen & Gledhill, as transaction counsel, advised Phu My 3 Bot Power Company Limited (“PM3”) on the project transfer process and the post-transfer liquidation process ("Transfer") of Phu My 3 BOT Thermal Power Plant (“PM3 Plant”) to the Vietnam Ministry of Industry and Trade (“MOIT”) and Vietnam Electricity (“EVN”).
The PM3 Plant is a combined cycle gas turbine power plant that uses domestic gas sources to operate and was developed by PM3, a joint venture between Sembcorp Utilities Pte. Ltd., Kyuden International Corporation and Sojitz Corporation. Upon completion of the Transfer to MOIT and EVN, the PM3 Plant is expected to contribute around 4.6 billion kWh to Vietnam's national electricity system.
Advising PM3 was Allen & Gledhill (Vietnam) Partner Jonathan Lin.
