Los Angeles, December 8, 2011 — PHI Group signed a memorandum of understanding for comprehensive strategic cooperation with Sao Nam Group, a Vietnamese company engaged in energy, mining, real estate and infrastructure, to build a 2,400 to 3,600 MW coal-fired power plant in Hai Khe Commune, Hai Lang District, Southeast Quang Tri Economic Zone, Vietnam.
The power plant is part of a comprehensive strategic cooperation agreement encompassing My Thuy Seaport in Quang Tri Province, Van Phong International Transshipment Port and the Van Phong Thermo-Electric Plant in Khanh Hoa Province, Vietnam currently being developed by Sao Nam Group.
PHI Group has the capability to supply coal to power plants on a long-term offtake basis through its relationships in Southeast Asia and will provide advanced technologies in coal combustion that reduce operation costs and emissions.
PHI Group also has a cooperation agreement with a U.S. company to provide its patent-pending coal-combustion-to-steam-energy system that requires 50 percent less coal to produce the same energy as presently combusted in traditional coal-fired power plants.
This process removes NOx, SOx and other emission impurities by an estimated 99 percent — well below Environmental Protection Agency standards. The system can be installed at about 70 percent of the cost of today's coal combustion plants based on a comparative system in the particular country.
It can be installed with existing steam turbines and does not require the installation of large, expensive, and comparatively ineffective gas emission scrubbers as presently required on coal-fired power plants. The ease and relatively inexpensive installation of such a system will make coal the clear energy source of choice for cleanliness, availability and cost.