The viewpoint of Quang Ngai Provincial People’s Committee on Ly Son 1 Ingine wave power project

Previously, on February 24, 2022, Tran Phuoc Hien chaired a meeting to listen and give opinions relating to Ly Son 1 Ingine wave power project.

After listening to the report of Ingine Pacific Co., Ltd. on difficulties, proposals and discussing the opinions of the meeting participants, Mr. Tran Phuoc Hien gave the following conclusions:

Firstly, the Ly Son 1Ingine wave power project is part of the "non-carbon island initiative" of Quang Ngai province, signed by 5 sides as Quang Ngai PPC, SK Innovation Corporation, Doosan Heavy Industry Company, Korea Ingine Joint Stock Company (Vietnam Legal Entity is Pacific Single Member Company Ltd.) and Vingroup - Joint Stock Company in MOU dated November 14, 2019. So Quang Ngai PPC will continue to support and create conditions for Thai Binh Duong company to carry out the project development.

Secondly: Quang Ngai PPC asks Pacific Company to issue an official document to Quang Ngai PPC for defining Ly Son 1 Ingine Wave Power Project as a project that Pacific Company assists Quang Ngai province and it is not an investment project and when completing the project, the company will unconditionally transfer to Quang Ngai PPC and support operation, maintenance, training costs for PPC in 3 years from transferring date. After 3 years the company must accompany and assist PPC in the project operation.

The Pacific Company also must promptly assess environmental impact, sea conserve to ensure the legal regulations of Vietnam and other stipulates of Quang Ngai province. The Company also has to calculate and propose suitable construction solutions for the maximum decrease of project development to geology and environment of the project area.

Thirdly, after receiving the official document from the Pacific Company, Quang Ngai PPC leaders will work with the provincial relevant departments and agencies to discuss and make orientations for steering and creating the best conditions to develop the project.

Quang Ngai PPC expects to hand Ly Son 1 Ingine Wave Power Project to the Quang Ngai Electricity Company for the project management and operation in case Pacific Ingine Company will hand over the whole project to the Quang Ngai province.