Russia and Vietnam move forward with first nuclear power plant plan
Russia and Vietnam have signed a cooperation agreement to develop Vietnam’s first nuclear power plant, according to Russia’s state nuclear energy corporation. The deal establishes a legal framework for the construction of two nuclear reactors with a combined capacity of 2,400 megawatts at the proposed Ninh Thuan site.
The announcement came during the official visit of Vietnamese Prime Minister Pham Minh Chinh to Moscow on March 24, as Vietnam seeks to strengthen its energy security amid global supply disruptions and rising fuel costs linked to ongoing conflicts in the Middle East. Domestic fuel prices in Vietnam have surged significantly, adding pressure to secure long-term energy solutions.
Russian officials stated that the agreement will serve as a foundation for long-term industrial cooperation, aiming to enhance Vietnam’s energy independence and support future economic growth.
Earlier plans to build a nuclear facility in Ninh Thuan were first agreed upon in 2010 but later suspended. The timeline for construction and operation of the new project has not yet been confirmed.