Vietnam scraps nuke power plant projects
Power-hungry Vietnam scrapped plans for two multi-billion dollar nuclear power plants yesterday, citing environmental and financial reasons after the cost of the projects skyrocketed. The two plants in central Ninh Thuan province had a combined capacity of 4,000 megawatts and were to be developed with assistance from Russia’s Rosatom and the Japanese consortium JINED. The cost of the nuclear power plants, slated to be the first in Southeast Asia, doubled since they were first tabled in 2009 to an estimated $18 billion, officials said earlier. The government said costs mushroomed as they sought more advanced technology following Japan’s deadly Fukushima nuclear disaster in 2011. “The project was suspended not due to technological reasons, but the country’s current economic situation,” the government said on its website.