Major Mekong Delta fuel supplier about to open storage facility
NSH Petro JSC, a major fuel supplier based in Vietnam’s Mekong Delta, is set to inaugurate the first phase of its Soai Rap-Hiep Phuoc fuel storage depot in Tien Giang province on April 30.
NSH Petro's B-04 tank at the Soai Rap-Hiep Phuoc storage depot, Tien Giang province, Mekong Delta, Vietnam. Photo courtesy of NSH Petro.
NSH Petro’s project in the Mekong Delta province got the green light from the General Department of Customs on Tuesday, featuring a 21,400-cubic-meter tank B-01 and 12,000-cubic-meter tank B-04.
Phan Van Quang, deputy CEO of NSH Petro, noted the expansion project was given the nod by provincial authorities after NSH Petro had spent $18 million on shares in Hiep Phuoc Trading and Investment Company Limited. The first-phase expansion upgraded the current 66,800-cubic meter storage facility and installed pipes and a 50,000-ton pontoon port.
The second phase will continue to invest in crude oil storage expansion and a 500,000-ton condensate factory, in line with encouragement from the Ministry of Industry and Trade and Tien Giang authorities.
NSH Petro, based in Chau Thanh district, Hau Giang province, operates in multiple sectors, including oil-gas, petroleum logistics, construction, tourism, restaurants, hotels, rest stop stations, high-tech agriculture, and fisheries.
A fuel storage facility of NSH Petro. Photo courtesy of the firm
As of the end of 2022, the firm’s registered capital had exceeded VND1.26 trillion ($53.63 million) with seven subsidiaries, 27 dependent branches, and three joint ventures.
NSH Petro, listed on the Ho Chi Minh Stock Exchange (HoSE) as PSH, runs over 550 fuel stations, covering nearly all the cities and provinces in the Mekong Delta.
PSH shares inched down 2.31% to VND6,340 ($0.27) on Wednesday.
- Related News
- Read More
Singapore firm becomes new player in Vinhomes Ocean Park 3 project
Singaporean-based CVH Nachos 1 Pte. Ltd. has become the new owner of Lighthouse 1 Real Estate Development Co., Ltd. (Lighthouse 1), which is developing the Vinhomes Ocean Park 3 project in the northern province of Hung Yen.
Real Estate - Mon, January 6, 2025 | 3:08 pm GMT+7
Vietnam's retail major Mobile World expands Xiaomi product distribution
Vietnam's leading retailer Mobile World signed a strategic cooperation agreement with China's electronics giant Xiaomi last Thursday to expand the distribution of electronic devices, home appliances, and IoT products in 2025.
Companies - Mon, January 6, 2025 | 2:26 pm GMT+7
Vietnam’s disbursed FDI capital hits record high of $25.35 bln in 2024
Registered foreign direct investment (FDI) in Vietnam hit $38.23 billion in 2024, down 3% year-on-year, while disbursed FDI capital reached $25.35 billion, an all-time high.
Economy - Mon, January 6, 2025 | 1:53 pm GMT+7
Vietnam GDP grows 7.09% in 2024, above parliament target
Vietnam’s GDP growth reached 7.09% in 2024, higher than the National Assembly’s target of 6-6.5%, the General Statistics Office (GSO) announced on Monday.
Economy - Mon, January 6, 2025 | 9:56 am GMT+7
An insight into Vietnam's Investment Support Fund decree
On December 31, 2024, the Vietnamese Government issued Decree No. 182/2024/ND-CP on establishment, management and usage of the Investment Support Fund - a move in response to the impact of the Global Minimum Tax (GMT). This strategic initiative underscores its commitment to fostering innovation and establishing Vietnam as a hub for cutting-edge technology, write Deloitte Vietnam analysts.
Consulting - Mon, January 6, 2025 | 8:23 am GMT+7
Vietnam beats Thailand to win ASEAN Cup
Defeating Thailand 3-2 in the second leg of the final on Sunday evening, the Vietnamese team won the ASEAN Cup 2024 with a final score of 5-3.
Society - Sun, January 5, 2025 | 10:47 pm GMT+7
Thailand urges five industries to adapt to new challenges
The Thai Ministry of Industry has asked manufacturers in five industries, including automobile manufacturing, electronics, electrical appliances, steel and garment, to take more serious efforts to adapt to projected US trade policies, the influx of low-cost imports into the Thai market, and disruptive technology.
Southeast Asia - Sun, January 5, 2025 | 9:07 pm GMT+7
Southeast Asian economies face ‘hard challenges’ in 2025
The year 2025 is set to be a challenging year for Southeast Asian countries that are looking to boost their economic growth as the world faces economic slowdown, geopolitical tensions, and trade fragmentation, particularly new tariffs by the U.S.
Southeast Asia - Sun, January 5, 2025 | 9:00 pm GMT+7
Malaysia's renewable energy sector sees bright prospects
Malaysia's renewable energy sector is expected to witness robust growth, driven by government initiatives and forthcoming investments, according to financial services company Philip Capital.
Southeast Asia - Sun, January 5, 2025 | 8:21 pm GMT+7
Singapore to build most efficient hydrogen-compatible natural gas power plant
The Energy Market Authority (EMA) of Singapore on Friday announced the awarding of a contract to electricity generator PacificLight Power to build a hydrogen-compatible natural gas power plant on Jurong island.
Southeast Asia - Sun, January 5, 2025 | 8:17 pm GMT+7
2024 marks hottest year in Indonesia’s history
Last year was recorded as the hottest year in Indonesia's history, the country's Agency for Meteorology, Climatology, and Geophysics (BMKG) reported on Friday.
Southeast Asia - Sun, January 5, 2025 | 8:16 pm GMT+7
TMT Motors stock hits ceiling for 7 consecutive sessions on deals signed with foreign partners
TMT Motors Corporation (TMT), a major player in the Vietnamese automotive sector, saw its ticker hit its ceiling price for the seventh consecutive session to VND11,200 ($0.44) per share last Friday, after the firm reached deals with foreign partners.
Companies - Sun, January 5, 2025 | 3:36 pm GMT+7
Jinko Solar Vietnam 'dumps' prices by 72% for solar cells exported to US
Jinko Solar (Vietnam) Industries, under China’s major solar module manufacturer Jinko Solar, exported its crystalline silicon photovoltaic cells (solar cells) into the United States with "a dumping margin of 71.85%".
Companies - Sun, January 5, 2025 | 2:58 pm GMT+7
Vietnamese stocks soar on partnerships with billionaire Pham Nhat Vuong
The price of many stocks in Vietnam have surged following news of strategic partnerships with electric vehicle maker VinFast, Green and Smart Mobility JSC (GSM), and other companies owned by billionaire Pham Nhat Vuong.
Finance - Sun, January 5, 2025 | 9:51 am GMT+7
Vietnam private lender ABBank appoints new general director
Hanoi-headquartered ABBank has appointed Pham Duy Hieu as its general director, starting from January 1, 2025.
Banking - Sun, January 5, 2025 | 9:00 am GMT+7
HCMC prioritizes infrastructure, innovation hubs, data centers under new master plan
Ho Chi Minh City seeks to mobilize over VND4.4 trillion ($173 million) between 2026 and 2030 to implement key infrastructure projects such as ring roads, expressways, bridges, and seaports according to its newly approved master plan, said the city mayor.
Top News - Sun, January 5, 2025 | 8:00 am GMT+7
