Circular 23/2015/TT-BCT on the thermal power plant investment

Circular 23/2015/TT-BCT of the Ministry of Industry and Trade providing for the order and procedure for the investment of thermal power plant project in the form of build, operate and transfer.

On July 13^th 2015, the Ministry of Industry and Trade issued Circular 23/2015/TT-BCT providing for the order and procedure for the investment of thermal power plant project in the form of build, operate and transfer. The Circular 23 will take effect from September 1^st 2015.

As stipulated in this Circular, the investment project of thermal power plant in the list of national electricity development plan with unidentified investor. If has 02 or more investors BOT enrollment and projected planning projects on the list of national electricity development was the Prime Minister will have to appoint an international tender. If there are 02 or more BOT investors register to participate and the project in the list of national electricity development plan that was designated by the Prime Minister, then the project will have to attend international bidding.

For other thermal power plant investment projects such as: project proposed by BOT investors and not in the list of planning national electricity development, project approved by the Prime Minister; project in the list of national electricity development plan but only 1 BOT investor register to participate and designated by the Prime Minister or accept to appoint the BOT investor without organizing bidding as above.

Also with this Circular, within 30 days from the signing of the investment agreement, the BOT investors must carry out the procedures for the issuance of investment certificate and the establishment of BOT enterprise, complete the additional contents to officially sign the project documents within 30 days after being granted the certificate of investment registration.

Regarding the reporting regime, Circular provides that in the process of building the thermal power plant, the BOT businesses must make monthly reports and send to the General Department of Energy and competent authorities on the 5^th day of each month; contents of the report include: progress of performed works; the existing problems, suggestions and proposals (if any) and tentative plans the next months…

We help clients overcome cultural barriers and achieve their strategic and financial outcomes, while ensuring the best interest protection, risk mitigation and regulatory compliance. ANT Lawyers has lawyers in Ho Chi Minh city, Hanoi, and Danang, and will help customers in doing business in Vietnam.