The Ministry of Industry and Trade (MoIT) has issued Circular No. 23/2015/TT-BCT regulating procedures for investing in thermal electricity plant projects in Vietnam under the form of build-operate-transfer (BOT).
The Ministry of Industry and Trade (MoIT) has issued Circular No. 23/2015/TT-BCT regulating procedures for investing in thermal electricity plant projects in Vietnam under the form of build-operate-transfer (BOT).
Accordingly, the circular will be applied to organisations and individuals joining activities related to investment of thermal electricity plant projects under the form of BOT contracts.
A BOT contract is a deal signed between MoIT and a BOT investor to build a thermal power plant in Vietnam. After the plant is completed, its investor is allowed to operate the plant for a fixed period of time, after which the project is transferred to MoIT.
The General Department of Energy under MoIT will work with BOT investors to resolve issues arising during the process of financial preparations.
The selection of BOT investors will be carried out in line with legal bidding regulations. BOT investors are required to submit a record file requesting an investment registration certificate to MoIT within 30 days since the investment deal is signed.
Projects implemented before September 1, 2015 will be subject to regulations stated in Article 72 of Decree No. 15/2015/ND-CP by the Government on investments under the public private partnership (PPP) model.
Memorandums of understanding (MoU) on developing BOT thermal power plant projects between investors and the ministry and principle agreements (PA) signed between the General Department of Energy with BOT investors before September 1, 2015 are not required to re-sign.
(Source:VNA)
