HCM City-based BNVITEK Ltd Company last month proposed to the municipal People’s Committee a project on developing a 20-ha factory in the city to turn 4,000 tonnes of waste into 100MW daily.

Under the project, the company will sell carbon credits from collecting methane during its operation, contributing to realising the Net Zero goal by 2050.

Waste treatment complex in Láng Dài, Bà Rịa-Vũng Tàu Province. Domestic and foreign investors have proposed investments in waste-to-energy projects in Việt Nam's southern localities. — VNA/VNS Photo

In mid-July, BCG Energy, a member of conglomerate Bamboo Capital, kicked off construction on Tâm Sinh Nghĩa waste-to-energy plant project in the city’s Củ Chi district after years of delays.

The plant, with an investment for the first phase reaching VNĐ6.4 trillion (US$254.5 million), is designed to treat 2,000-2,600 tonnes of waste each day.

Meanwhile, the municipal People’s Committee also granted an investment licence to Vietstar Company to build a 2,000-tonne waste-to-energy plant.

Moreover, the HCM City Urban Environment Ltd Co and the Refrigeration Electrical Engineering Corporation have announced their interest in investing in waste treatment projects with respective capacity of 1,000 tonnes of waste and 2,000 tonnes.

In Đồng Nai Province, which borders HCM city, domestic and foreign investors have also proposed developing waste-to-energy projects. They include Ecotech Vietnam Technology Investment and Trading Joint Stock Company and Le Delta Joint Stock Company.

In the first half of this year, the provincial leaders received two investors from Taiwan (China) and Germany who came to seek investment opportunities in waste-to-energy development.

Willy Andreas Kirsch, Chairman of Germany’s Asia New Generation, said that his company plans to invest $40 million in invest in a plant capable of burning 400 tonnes of waste daily in its first phase. The capacity is expected to raise to 1,000 tonnes per day in the next phase.