Hung Hai Group plans battery, hydrogen factories in Ba Ria-Vung Tau
Hung Hai Group, a major Vietnamese business involving infrastructure development and renewable energy, wants to build a battery plant and hydrogen generation factory in Chau Duc district, Ba Ria-Vung Tau province.
The group made the suggestion to Ba Ria-Vung Tau People’s Committee at a working session late last week. The two projects may cover nearly 3,000 hectares in the southern coastal province.
Hung Hai Group headquarters in Hanoi. Photo courtesy of the company.
Hung Hai plans to build a battery plant with 18 production lines. It may have a size of 400 hectares in the first phase and then expand to 2,000 hectares in the second.
The 500-hectare hydrogen factory’s output is set to continue into ammonia production, with a designed capacity of 200,000 tons a year.
The corporation is committed to applying eco-friendly methods in production.
Besides, Hung Hai Group chairman Tran Dinh Hai suggested planning for Hung Hai 1 and Hung Hai 2 industrial-urban zones and Hung Hai 3 urban area.
In reply, Ba Ria-Vung Tau Vice Chairman Nguyen Cong Vinh asked Hung Hai Group to update their proposals per the opinions of local authorities and then submit to the People’s Committee, so the projects could be added to the provincial planning.
Hung Hai is the developer of many hydropower projects, including Nam Na 1, Nam Na 2, Nam Na 3 in Lai Chau province, northern Vietnam. It is also the builder of many key road and bridge projects in Lai Chau and Dien Bien provinces.
Most recently, the firm has focused on renewable energy. In the central province of Quang Tri, it was approved to study a project of floating solar power on Bao Dai Lake, covering 92 hectares. It also sought permission to study a wind power project, worth VND20,000 billion ($850.2 million), with a capacity of 480 megawatts, in the central province.
The business is also investing in five solar power projects, namely Loc Ninh 1, 2, 3, 4, 5, in the southern province of Binh Phuoc. Notably, the firm has constructed a transmission line and a transformation station to connect those projects to the national grid. The 30-kilometer line had a total investment of VND1,200 billion ($51 million).
- Read More
Vietnam tech giant FPT to provide high-quality AI human resources
With the groundbreaking of an inter-level school on Sunday, FPT Corporation is completing its education system from elementary to university levels in the south-central province of Binh Dinh, to provide high-quality human resources, particularly in AI.
Companies - Mon, February 17, 2025 | 11:32 am GMT+7
Japan pneumatics firm SMC to start $330 mln Vietnam expansion from July
SMC Manufacturing Vietnam, under Japanese pneumatic instrument producer SMC, aims to start its $330 million expansion in Vietnam from July.
Industries - Mon, February 17, 2025 | 10:47 am GMT+7
Institutional breakthroughs to provide solid foundation for heightened business confidence: economists
At a meeting of the National Assembly's Economic Committee in early February, the government proposed the 2025 GDP growth be "8% or more", instead of 6.5-7% set last November. The Investor introduces opinions of some leading Vietnamese economists on this proposed target.
Economy - Mon, February 17, 2025 | 8:02 am GMT+7
Vietnam consumer credit enters new growth cycle
After the decrease in consumer capital demand, negative growth, and peaking bad debts in 2023, Vietnam’s consumer financial market is entering a new growth cycle, backed by positive signs from the macroeconomic environment.
Finance - Sun, February 16, 2025 | 3:19 pm GMT+7
Vietnam property investors seek new opportunities in provincial markets
Real estate investors in Vietnam, both individuals and organizations, are shifting their investments from city centers to suburban regions and neighboring provinces where land remains abundant and significant investments are being made in infrastructure, particularly in transportation.
Real Estate - Sun, February 16, 2025 | 2:00 pm GMT+7
Five Vietnam pilgrimage destinations perfect for spiritual seekers: Booking.com
Booking.com, the world's leading digital travel company, has suggested some destinations in Vietnam for those seeking spiritual enrichment and a chance for reflection and connection, including Ba Den mountain and Bai Dinh pagoda.
Travel - Sun, February 16, 2025 | 10:59 am GMT+7
Malaysia takes the lead in data center development
Malaysia is making efforts to align with the global trend towards digitalization, which is driving demand for data centers, cloud computing, blockchain, and artificial intelligence (AI).
Southeast Asia - Sun, February 16, 2025 | 10:57 am GMT+7
WB sees Thai fiscal risks mounting due to spending surge
Thailand’s pursuit of an expansionary fiscal policy strategy to propel growth faces the risk of rising costs for elderly care, investment and the need to keep public debt level to sustainable levels, according to the World Bank.
Southeast Asia - Sun, February 16, 2025 | 10:41 am GMT+7
Vietnam mining stocks rally amid global trade tension
Shares of Vietnam’s mining companies have rallied since early this month, fueled by heightened global trade tensions following the start of Donald Trump’s second term as the U.S. president.
Finance - Sun, February 16, 2025 | 10:36 am GMT+7
Online purchase below VND2 mln may be exempt from Vietnam import tax
The Vietnamese Ministry of Finance has proposed exempting goods purchased through e-commerce platforms worth no more than VND2 million ($78) from import tariff, with an annual purchase limit of VND96 million ($3,781).
Finance - Sun, February 16, 2025 | 8:00 am GMT+7
Malaysia expected to remain magnet for FDI
Malaysia’s foreign direct investment (FDI) is expected to remain robust in the long term, but there could be repercussions in the short term as investors hold back on their investment decisions amid heightened global uncertainties.
Southeast Asia - Sat, February 15, 2025 | 9:01 pm GMT+7
Laos to build $1.9 bln wind power plant to export electricity to Vietnam
The Lao Government and Chitchareune Construction - a Lao builder will jointly build the 1,200 MW Nong wind power plant, with an investment of $1.9 billion, to export electricity to Vietnam.
Energy - Sat, February 15, 2025 | 8:46 pm GMT+7
Malaysia needs more funding for semiconductor sector
Malaysia needs more funding for the implementation of the National Semiconductor Strategy (NSS) to enhance its competitiveness with neighboring countries, said Penang Chief Minister Chow Kon Yeow.
Southeast Asia - Sat, February 15, 2025 | 4:31 pm GMT+7
Thailand considers easing rules on income from overseas
Thailand’s government is considering easing personal income tax rules for individuals’ overseas income to encourage the remittance of those funds back into the country, said a senior official.
Southeast Asia - Sat, February 15, 2025 | 4:29 pm GMT+7
Nissan to close factory in Thailand
Japanese automaker Nissan has announced plans to close one of its two automobile factories in Thailand this year, following the collapse of merger talks with Honda.
Southeast Asia - Sat, February 15, 2025 | 4:10 pm GMT+7
Vietcombank leads Vietnamese banks in 2024 pre-tax profit
Vietcombank reported a pre-tax profit of VND42.2 trillion ($1.66 billion) last year, ranking as the most profitable Vietnamese lender, according to the Vietnam Banking Association (VNBA).
Banking - Sat, February 15, 2025 | 4:04 pm GMT+7
