<div>Tata Power Company Ltd plans to complete work on a $1.8 billion thermal power station in Vietnam three years early, government officials said, as the two countries strive to showcase the economic ties between them.</div><div> </div><div>Vietnamese Prime Minister Nguyen Tan Dung, visiting India just a month after India's president travelled to his country, said he had met Tata group officials and that the 1,320 megawatt project would be completed by 2019 instead of 2022.</div><div> </div><div>Tata Power won the contract last year to develop the coal-fired Long Phu 2 Power Project in the southern Soc Trang province of Vietnam on a build, own and transfer basis. Indian officials also said the project had been brought forward.</div><div> </div><div>"I have promised to the Tatas we will create favourable conditions for the power project," Dung told a business conference. "They said this project is not the final step, they are interested in expanding the relationship further."</div><div> </div><div>The strengthening of ties between the two countries, in defence as well, comes as both are embroiled in territorial disputes with China.</div><div> </div><div>Trade between the two countries increased by over 30 percent to $8 billion in 2013/14 from the previous year, the Indian foreign ministry said.</div><div> </div><div>Dung said trade could hit $20 billion by 2021, far outstripping a target of $15 billion.</div><div> </div><div>"India and Vietnam are two thriving economies at this point. This offers us a strong opportunity to build ties further," Dung said.</div><div> </div><div>Vietnam expects economic growth of 6.2 percent in 2015, faster than the targeted 5.8 percent this year. India's gross domestic product grew a faster-than-expected 5.7 percent year-on-year in the quarter ended in June, the fastest pace in two and half years.</div><div> </div><div>India's Infrastructure Leasing & Financial Services Ltd also has signed a memorandum of understanding on the management of an expressway connecting Hanoi to the port city of Haiphong under an approximately $2 billion contract.</div><div> </div><div>(Reuters)</div>
