Vietnam: future Asian powerhouse?

Switzerland-based Alstom signed a contract with Viet Nam Machinery (LILAMA) to provide US$200 million in power supply equipment for the Nhon Trach 1 Combined Cycle Power Plant project. The plant, located in Nhon Trach District, Dong Nai Province, will cost an estimated $375 million to build and will annually supply four billion kWh to the national grid.

LILAMA was contracted by Viet Nam Oil and Gas Group (PetroVietnam), a State-owned drilling and exploration firm, to build the plant, which includes two gas turbines, one steam turbine and two heat retrieving steam generators. The plant will use natural gas from PetroVietnam's Phu My gas pipeline, which extends into the Cuu Long basin and Nam Con Son oil field. Construction began in December 2006 and is expected to last until March 2009.

Once completed, export output from the country would inevitably increase. That said, with the increase power to the country, how soon would the country herself be an economic powerhouse in the region?