Contract payment strategies for EPC Project : case study of Vung Ang no.1 Coal Fired Power Plant Project and Long Phu no.1 Coal Fired Power Plant Project of Petrovietnam, location in Vietnam | |
| Author | Bui Minh Tuan |
| Call Number | AIT Proj. no.MPM-CM-15-34 |
| Subject(s) | Construction contracts--Vietnam Project management--Vietnam |
| Note | A project submitted in partial fulfillment of the requirements for the degree of Master of Engineering (Professional) in Construction Engineering and Infrastructure Management, School of Engineering and Technology |
| Publisher | Asian Institute of Technology |
| Series Statement | Project ; no. MPM-CM-15-34 |
| Abstract | Recent years, resulting from the economic development, Vietnamese economy has increased strongly and living standard has been growing up. Vietnamese economy has been on its way to integrate into the economy of the region and of the world. Electricity demand has also increased along with this process. In order to meet the power demand, Petrovietnam (PVN), a 100% state owned corporation, as the leading corporation in Vietnam’s energy industry, has to boost construction progress of coal fired thermal power plants owned by PVN. All of these power plant projects are mega-style projects with total estimation cost of each power plant is nearly 2 billion USD and has been built by using Engineering, Procurement and Construction (EPC) contract method, including Lump sum EPC contract and/or Mixed (not fixed price) EPC Contract. Upto now, some power plants projects has been on commercial operation and some is on buildind process, but the lessons learnt to choose the best contract payment strategy for EPC contract of a coal fired thermal power plant project still is a very sensitive question not only for Owner, but also for Vietnamese goverment to control the cost of project.In this study, contract payment strategies for EPC contract of coal fired thermal power plant projects (mega project) has been discussed, analyzed and recommanded basing on a thorough research from the design phase to the operation phase of projects and in the point of view of Owner and EPC contractors. Strengths and weakness of contract payment strategies have been addressed and assessed fully and objectively. This study also recommends the optimal contract payment strategy for an EPC contract of coal fired thermal power plant project in Vietnam and necessary solutions to overcome difficulties and mitigate the risks for both Owner and Contractor during the construction phase of the project. |
| Year | 2015 |
| Corresponding Series Added Entry | Asian Institute of Technology. Project ; no. MPM-CM-15-34 |
| Type | Project |
| School | School of Engineering and Technology (SET) |
| Department | Department of Civil and Infrastucture Engineering (DCIE) |
| Academic Program/FoS | Construction Engineering and Infrastructure Management (Professional Master) (MPM-CM) |
| Chairperson(s) | Chotchai Charoenngam; |
| Examination Committee(s) | Hadikusumo, B. H. W.;Wasan Teerajetgul; |
| Scholarship Donor(s) | Petrovietnam; |
| Degree | Project (M. Eng.) - Asian Institute of Technology, 2015 |