Vietnam and Russia have signed an agreement to construct a nuclear power plant in Vietnam

Vietnam and Russia have signed an agreement to construct a nuclear power plant in Vietnam

¨     Vietnam and Russia have signed an agreement to construct a nuclear power plant in Vietnam.

¨   This move signals Vietnam's return to nuclear energy planning. This project is named Ninh Thuan 1.

¨   Vietnam had cancelled similar nuclear projects in 2016. Those previous plans were abandoned due to rising costs.

¨     Safety concerns were also a reason for the cancellations.

¨     This new agreement was reached during a visit to Moscow.

¨ Vietnamese Prime Minister Pham Minh Chinh met with Russian Prime Minister Mikhail Mishustin.

¨     Both leaders described the project as symbolic. They linked it to the strong ties between their respective countries.

¨     The plan involves the construction of two nuclear reactors. These reactors will be designed by Russia.

¨     Their total capacity will be approximately 2,400 megawatts. The design is based on an existing Russian plant.

¨     The two countries also discussed other areas of cooperation. These include oil and gas.

¨ They also spoke about technology partnerships. Infrastructure development was another topic of discussion.