Southern Power Corp is now seeking approval from its parent company Electricity of Vietnam and the government to invite bids for the engineering, procurement and construction of the project in the third quarter.

The power cable project, which costs VND1.81 trillion (US$87.5 million), aims to supply sufficient electricity for Phu Quoc Island. The island, popular as a tourist destination, now depends on diesel-powered plants.

Southern Power Corp said the cable will be operational in 2013, one year later than previously planned due to delays in project assessment.