Bonds worth $120 mln fuel T&T Group energy projects
T&T Group, a private multi-sector corporation, successfully raised nearly VND2.74 trillion ($120 million) via bond issuances for its wind power projects in the first months of the year.
Its subsidiary Yang Trung Wind Power JSC on Monday reported on its $24 million proceeds from bond issuances during December 22, 2021 - March 18, 2022.
On the same day, another member unit, Hoa Dong 2 Wind Power Co. Ltd, successfully raised $59.8 million from bonds during December 24, 2021 - March 18, 2022.
In the same period with Hoa Dong 2’s issuance, Cho Long Wind Power JSC and Phuoc Huu - Duyen Hai 1 Ltd. issued bonds worth $22.8 million and $13.1 million, respectively.
T&T Group, with tycoon Do Quang Hien being chairman and CEO, is known as a major player in Vietnam’s renewable energy field in recent years.
It has developed and operated several wind power plants in the south central coast of Vietnam, including Yang Trung, Cho Long, Hoa Dong 2, and Phuoc Huu-Duyen Hai 1.
The group is also heavily investing in other renewable energies such as solar and LNG power.
The group currently owns four solar power plants on national grid connections, with a total capacity of 245 MW, including the 45MW Phuoc Ninh project, the 100MW Thien Tan 1.2 project, the 50MW Thien Tan 1.3 project, and the 50MW Hong Liem 3 project.
T&T has shown its interest in a $6 billion LNG-fueld power project called Cai Mep Ha in Ba Ria - Vung Tau province, southern Vietnam. Its partner is the US’s Gen X Energy. As planned, the project will be implemented in three phases, set to be completed in 2023, 2026, 2030 respectively.
The corporation also proposed to develop the Son My 3 and Son My 4 LNG power plants in Binh Thuan province, with a combined capacity of 3 GW. The figure for each of its three phases is 1.5 GW.
In the central province of Ha Tinh, T&T wants to cooperate with PV Power to develop a $3.5 billion LNG project in Vung Ang Economic Zone.
Together with Korea Gas Corporation (KOGAS), South Power (KOSPO) and Hanwha Energy (HEC), the Vietnamese group is participating in the Hai Lang LNG power complex phase 1 in Southeast Quang Tri Economic Zone, the central province of Quang Tri. The $2.3 billion project is expected to start commercial operation in the period 2026-2027, producing 1,500 MW in phase 1.
T&T Group and Phongsubthavy Group on March 22 signed an MoU to develop renewable energy projects in Laos, with a total capacity of 2,500 MW. The projects aim to export power to Vietnam.
T&T wants to develop 12,000-15,000 MW in total by 2030, accounting for about 10% of Vietnam’s total installed power capacity.
Its main business lines are finance and investment, real estate, industry and trade, energy, agriculture, forestry and fisheries, transportation infrastructure, health, education, and sports.
- Read More
Vietnam needs large, specialized logistics centers to compete better: official
Vietnam needs large-scale, specialized logistics centers that will enable greater competitiveness of local economies and enterprises, says Tran Thanh Hai, deputy head of the Ministry of Industry and Trade's agency of foreign trade.
Economy - Sun, November 3, 2024 | 11:00 am GMT+7
Vietnam manufacturing sector sees 35% increase in Q3 job orders: Adecco
Vietnam’s manufacturing and sourcing sectors saw a substantial 35% year-on-year increase and a 52% quarter-on-quarter increase in Q3/2024 job orders, global workforce solutions provider Adecco said in a reseach report released Thursday.
Economy - Sun, November 3, 2024 | 9:00 am GMT+7
Construction majors to continue capitalizing on public investment projects
Vietnamese construction giants are expected to continue capitalizing on public investment projects for the remainder of this year after delivering strong performances in the third quarter, analysts say.
Companies - Sun, November 3, 2024 | 8:00 am GMT+7
Former Government Office chairman receives $7,900 bribe from property project
Mai Tien Dung, former Minister-Government Office Chairman, received a bribe worth VND200 million ($7,900) from Nguyen Cao Tri, owner of the Dai Ninh eco-resort and urban area project in Lam Dong province.
Society - Sat, November 2, 2024 | 9:13 pm GMT+7
Thai food giant CP enters public-private partnership to promote food system transformation
Thai-invested C.P. Vietnam Livestock JSC and the Partnership for Sustainable Agriculture Vietnam (PSAV) signed a memorandum of understanding Friday on working together to advance sustainable agriculture in the country.
Companies - Sat, November 2, 2024 | 7:16 pm GMT+7
Central Vietnam province Quang Ngai to begin work on new VSIP industrial park next year
Vietnam’s central province of Quang Ngai will work with the investor to have construction of VSIP II Quang Ngai, a facility based on the Vietnam-Singapore Industrial Park (VSIP) model, begin in August 2025.
Industrial real estate - Sat, November 2, 2024 | 3:47 pm GMT+7
Vietnam likely to grow 6.5% in 2024-2025: VinaCapital
VinaCapital, among the biggest foreign-run asset managers in Vietnam, has forecast the country’s economy to achieve 6.5% growth in both 2024 and 2025, with the composition of the expansion to change to more domestically driven factors next year.
Economy - Sat, November 2, 2024 | 2:00 pm GMT+7
Major Vietnamese developer Novaland appoints new CEO
Duong Van Bac, who joined Novaland as chief financial officer in August 2023, has been appointed general director, starting Friday.
Companies - Sat, November 2, 2024 | 10:24 am GMT+7
Vietnamese conglomerate Bamboo Capital posts 36-fold profit growth in Q3
Ho Chi Minh City-based Bamboo Capital Group recorded an after-tax profit of VND331.2 billion ($13.1 million) in the third quarter of 2024, an astounding 36-fold expansion year-on-year.
Southeast Asia - Sat, November 2, 2024 | 9:41 am GMT+7
ThaiBev to bag $54 mln from Sabeco’s upcoming dividend payout
Vietnam Beverage, wholly owned by Thai Beverage (ThaiBev) will rake in VND1,374 billion ($54.26 million) worth of dividend from Ho Chi Minh City-based top brewer Sabeco.
Companies - Sat, November 2, 2024 | 9:13 am GMT+7
Steel heavyweight Hoa Phat pours over $2 bln into central Vietnam complex
Leading Vietnamese steelmaker Hoa Phat had invested more than VND52.5 trillion ($2.08 billion) in its Dung Quat Iron and Steel Integrated Complex (Dung Quat 2) in the central province of Quang Ngai as of Q3/2024.
Industries - Sat, November 2, 2024 | 8:00 am GMT+7
Vietnam becomes Australia’s fastest-growing inbound market
The number of Vietnamese tourists to Australia has grown significantly after the Covid-19 pandemic, with nearly 178,000 reported in the 12 months to August 2024, according to a Friday press release by the Australian Minister for Trade and Tourism’s Office.
Southeast Asia - Fri, November 1, 2024 | 10:02 pm GMT+7
Study finds shift in Thai consumers’ spending patterns
Consumers in Thailand are shifting their spending focus to experiences and investments, according to the latest ASEAN Consumer Sentiment Study (ACSS) by United Overseas Bank (UOB).
Southeast Asia - Fri, November 1, 2024 | 10:00 pm GMT+7
Energy security, digitalization key to Indonesia's economic growth
The Indonesian government is prioritizing long-term economic growth through energy security, digitalization, and natural resource industrialization, according to Deputy Minister of Finance Thomas Djiwandono.
Southeast Asia - Fri, November 1, 2024 | 9:58 pm GMT+7
Vietnam PM's Middle East tour creates breakthroughs in economic, trade, investment cooperation: FM
Prime Minister Pham Minh Chinh’s freshly ended six-day trip to the UAE, Saudi Arabia and Qatar has produced important outcomes, demonstrating the growing relations between Vietnam and the three Middle-East countries, Deputy Prime Minister and Foreign Minister Bui Thanh Son told the Vietnam News Agency.
Politics - Fri, November 1, 2024 | 9:25 pm GMT+7
Vietnam, Qatar look to tap potential for energy, oil & gas collaboration
Vietnam and Qatar have recognized the significant potential for further collaboration in multiple sectors such as energy, oil and gas, especially LNG, agriculture, Halal industry, and banking.
Politics - Fri, November 1, 2024 | 9:02 pm GMT+7